Highlights of Capriotti’s Sandwich Shop’s Item 19 Financial Performance Representations (2012 FDD) – Part 3

Income Statement for Capriotti’s Affiliate-Owned Restaurants for the Period Ending December 31, 2011

• The figures from the affiliate-owned restaurants do not include any expenses beyond the Gross Profit line.

• The figures below are taken from the Horizon restaurant in Henderson, Nevada; the Sahara Restaurant in Las Vegas, Nevada; and the Dana Park restaurant in Mesa, Arizona.

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  The company’s affiliate operates 2 other restaurants in Arizona but they are not included because the affiliate did not operate them for all of 2011.

• Only the income statements from the affiliate-owned restaurants and not the Franchised Restaurants were used in the chart below because of their reliability.

• The restaurants included in the statement offered substantially the same products and services to the public as those offered by the Franchised Restaurants. Essentially the same services are available to Franchised Restaurants as have been available to the affiliate-owned restaurants.

• The restaurants included in the statement use a uniform accounting system. The statement was prepared on a basis consistent with generally accepted accounting principles.

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