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Shake Shack Inc. (SHAK) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 30, 2015

Shake Shack Inc.

CIK: 1620533 Ticker: SHAK
Exhibit 99.1




Shake Shack Announces Fourth Quarter and Fiscal Year Ended 2015 Financial Results
- Reports Fourth Quarter Same-Shack Sales of 11.0% and Reiterates Outlook for Fiscal 2016 -

 
NEW YORK, NY (Business Wire) — March 7, 2016 Shake Shack Inc. (“Shake Shack” or the “Company”) (NYSE: SHAK), today reported financial results for the fourth quarter and fiscal year ended December 30, 2015, periods that included 13 and 52 weeks, respectively.
Financial Highlights for the Fourth Quarter 2015:
Total revenue increased 46.8% to $51.1 million.
Shack sales increased 49.2% to $49.3 million.
Same-Shack sales increased 11.0%.
Shack-level operating profit*, a non-GAAP measure, increased 88.1% to $13.9 million, or 28.2% of Shack sales.
Adjusted EBITDA*, a non-GAAP measure, increased 104.5% to $9.9 million.
Net income was $1.2 million, or $0.07 per diluted share.
Adjusted pro forma net income*, a non-GAAP measure, was $2.9 million, or $0.08 per fully exchanged and diluted share, compared to an adjusted pro forma net loss of $(0.3) million, or $(0.01) per fully exchanged and diluted share in the prior year period.
9 system-wide Shack openings, including three domestic company-operated Shacks and six international licensed Shacks.
Financial Highlights for the Fiscal Year 2015:
Total revenue increased 60.8% to $190.6 million.
Shack sales increased 63.5% to $183.2 million.
Same-Shack sales increased 13.3%.
Shack-level operating profit*, a non-GAAP measure, increased 96.8% to $52.9 million, or 28.9% of Shack sales.
Adjusted EBITDA*, a non-GAAP measure, increased 117.7% to $41.1 million.
Net loss was $(8.8) million, or $(0.65) per diluted share.
Adjusted pro forma net income*, a non-GAAP measure, increased 154.9% to $12.0 million, or $0.32 per fully exchanged and diluted share, compared to $4.7 million, or $0.13 per fully exchanged and diluted share in the prior year period.
21 system-wide Shack openings, including 13 domestic company-operated Shacks and 8 international licensed Shacks, representing a 33.3% increase in system-wide Shack count.
* Shack-level operating profit, adjusted EBITDA and adjusted pro forma net income are non-GAAP measures. Reconciliations of Shack-level operating profit to operating income, adjusted EBITDA to net income (loss), and adjusted pro forma net income (loss) to net income (loss), the most directly comparable financial measures presented in accordance with GAAP, are set forth in the schedules accompanying this release. See “Non-GAAP Financial Measures.”
Randy Garutti, Chief Executive Officer of Shake Shack, stated, “We are very proud of what we have been able to accomplish in our first year as a public company. 2015 marked a record year for Shake Shack in nearly all metrics, and we will continue to execute our stated growth strategy and connect with our guests the world over. During the fourth quarter we opened three domestic company-operated Shacks and six international Shacks including our first Shack in Tokyo in the Meiji-Jingu Gaien park. Looking ahead, 2016 is shaping up to be another outstanding year with a strong pipeline of new domestic openings, and plans to enter four new markets."




The following information was filed by Shake Shack Inc. (SHAK) on Monday, March 7, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Schedule I: Condensed Financial Information Of Registrant
Schedule I: Condensed Financial Information Of Registrant - Balance Sheet (details)
Schedule I: Condensed Financial Information Of Registrant - Balance Sheet Additional Information (details)
Schedule I: Condensed Financial Information Of Registrant - Notes To Financial Statements (details)
Schedule I: Condensed Financial Information Of Registrant - Statement Of Income (details)
Schedule I: Condensed Financial Information Of Registrant - Statements Of Cash Flows (details)
Schedule I: Condensed Financial Information Of Registrant - Statements Of Comprehensive Income (details)
Schedule Ii: Valuation And Qualifying Accounts
Schedule Ii: Valuation And Qualifying Accounts (details)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Income (loss)
Consolidated Statement Of Income (loss) - Parenthetical
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Stockholders' And Members' Equity
Accounts Receivable
Accounts Receivable (details)
Accounts Receivable (tables)
Accounts Receivable - Additional Information (details)
Commitments And Contingencies
Commitments And Contingencies (details)
Debt
Debt (details)
Earnings Per Share
Earnings Per Share (tables)
Earnings Per Share - Narrative (details)
Earnings Per Share - Schedule Of Earnings Per Share (details)
Employee Benefit Plans
Employee Benefit Plans - Deferred Compensation (details)
Employee Benefit Plans - Defined Contribution Plan (details)
Equity-based Compensation
Equity-based Compensation (tables)
Equity-based Compensation - Narrative (details)
Equity-based Compensation - Schedule Of Compensation Expense Recognized (details)
Equity-based Compensation - Schedule Of Fair Value Of Stock Options (details)
Equity-based Compensation - Schedule Of Restricted Class B Stock (details)
Equity-based Compensation - Schedule Of Stock Options (details)
Equity-based Compensation - Schedule Of Unit Appreciation Rights (details)
Equity-based Compensation - Stock Options Outstanding And Exercisable (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Estimated Fair Value Of Investments (details)
Fair Value Measurements - Additional Information (details)
Fair Value Measurements - Cash, Cash Equivalents And Marketable Securities (details)
Geographic Information
Geographic Information (details)
Geographic Information (tables)
Income Taxes
Income Taxes (tables)
Income Taxes - (narrative) (details)
Income Taxes - Schedule Of Components Of Income Before Income Taxes (details)
Income Taxes - Reconciliation Of Income Tax Expense (details)
Income Taxes - Schedule Of Components Of Income Tax Expense (details)
Income Taxes- Schedule Of Deferred Tax Assets And Liabilities (details)
Inventories
Inventories (details)
Inventories (tables)
Leases
Leases (tables)
Leases - Narrative (details)
Leases - Schedule Of Future Minimum Lease Payments (details)
Leases - Summary Of Rent Expense (details)
Nature Of Operations
Nature Of Operations - Initial Public Offering (details)
Nature Of Operations - Organization And Nature Of Operations - Franchiser (details)
Nature Of Operations - Organizational Transactions (details)
Nature Of Operations - Redemption (details)
Nature Of Operations - Secondary Offering (details)
Non-controlling Interests
Non-controlling Interests (tables)
Non-controlling Interests - Narrative (details)
Non-controlling Interests - Schedule Of Non-controlling Interest (details)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Related Party Transactions
Related Party Transactions (details)
Selected Quarterly Financial Data (unaudited)
Selected Quarterly Financial Data (unaudited) (details)
Selected Quarterly Financial Data (unaudited) (tables)
Stockholder's Equity
Stockholder's Equity (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies - Advertising (details)
Summary Of Significant Accounting Policies - Fiscal Year (details)
Summary Of Significant Accounting Policies - Income Taxes (details)
Summary Of Significant Accounting Policies - Leases (details)
Summary Of Significant Accounting Policies - Other Assets (details)
Summary Of Significant Accounting Policies - Property And Equipment (details)
Summary Of Significant Accounting Policies - Recently Issued Accounting Pronouncements (details)
Summary Of Significant Accounting Policies - Segment Reporting (details)
Supplemental Balance Sheet Information
Supplemental Balance Sheet Information (tables)
Supplemental Balance Sheet Information - (details)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information (tables)
Ticker: SHAK
CIK: 1620533
Form Type: 10-K Annual Report
Accession Number: 0001620533-16-000187
Submitted to the SEC: Wed Mar 30 2016 5:02:29 PM EST
Accepted by the SEC: Wed Mar 30 2016
Period: Wednesday, December 30, 2015
Industry: Retail Eating And Drinking Places

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