Income Statement

v3.20.1
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Revenues:    
Owned restaurant net revenue $ 108,775 $ 74,033
Management, license and incentive fee revenue 11,906 11,568
Total revenues 120,681 85,601
Owned operating expenses:    
Owned restaurant cost of sales 28,005 18,989
Owned restaurant operating expenses 67,883 45,695
Total owned operating expenses 95,888 64,684
General and administrative (including stock-based compensation of $1,306 and $1,313 for the years ended December 31, 2019 and 2018 respectively) 11,472 11,119
Depreciation and amortization 5,404 2,824
Bargain purchase gain (10,963)  
Loss on impairment of investments 2,684  
Lease termination expenses 573 213
Pre-opening expenses 565 1,365
Transaction costs 2,513  
Equity in income of investee companies   (182)
Other income, net (246) (235)
Total costs and expenses 107,890 79,788
Operating income 12,791 5,813
Other expenses, net:    
Interest expense, net of interest income 1,954 1,193
Loss on early debt extinguishment 858  
Total other expenses, net 2,812 1,193
Income before (benefit) provision for income taxes 9,979 4,620
(Benefit) provision for income taxes (11,154) 713
Net income 21,133 3,907
Less: net income attributable to noncontrolling interest 302 633
Net income attributable to The ONE Group Hospitality, Inc. 20,831 3,274
Currency translation loss (341) (754)
Comprehensive income $ 20,490 $ 2,520
Net income attributable to The ONE Group Hospitality, Inc. per share:    
Basic net income per share $ 0.73 $ 0.12
Diluted net income per share $ 0.70 $ 0.12
Shares used in computing basic earnings per share (in shares) 28,454,385 27,653,827
Shares used in computing diluted earnings per share (in shares) 29,636,219 28,122,445

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