Table of Contents Our Strategic Building Blocks 2004 Financial Highlights Operating Company Overviews Letter to Shareholders Leadership Defined    Inspiration    Motivation    Trust    Passion    Vision    Innovation Corporate Responsibility Financial Review 2004 Shareholder Information Board of Directors Corporate Officers
Trust How much does Tim O'Brien believe in extraordinary service? For guests who had experienced an unusually long wait, this Bahama Breeze general manager once sprinted to a local mall to buy chocolate ice cream for a young guest. "We only had vanilla, he only wanted chocolate!" Tim remembers. Did going the extra mile pay off? "The family are regular customers and I get chocolate ice cream every time they visit," he reports. When it comes to leadership, no job is too small for Tim, no gesture too insignificant. It's this type of service and commitment that is helping Bahama Breeze take casual dining to a new level. The brand has established itself as a place where guests can relax, feel refreshed, and forget the stresses of everyday life. With its menu of Caribbean-inspired cuisine, tropical drinks, and lively deck-side entertainment, Bahama Breeze is the place to go to put yourself in an "island state of mind." The concept had fiscal 2004 sales of $176 million and now operates 32 restaurants in 19 states, with average annual sales per restaurant of $5.2 million (on a 52-week basis), one of the highest levels in the industry. As with any developing concept, Bahama Breeze continues to evolve and refine its brand positioning to find the best potential for maximizing profits. Recently, Bahama Breeze opened a new prototype restaurant in Pittsburgh, Pennsylvania, with a meaningfully lower initial restaurant investment cost. The Bahama Breeze business plan also has evolved to include lunch as a dining option. The move has helped expand the brand's presence among a new group of diners and boosted same-restaurant sales growth in fiscal 2004. Tim O'Brien General Manager Bahama Breeze As the first hourly team member ever promoted to general manager, Tim O'Brien holds a distinctive place in Bahama Breeze's leadership history. "I had worked in a number of other restaurants in different positions, but Bahama Breeze really inspired me to reach for a higher level. I really love the concept." Part of the Bahama Breeze proposition is to create a relaxed atmosphere where guests can relieve their stress. How hard is it for Tim to achieve this atmosphere given the demands of serving fresh Caribbean-inspired food to hundreds of guests daily? "We have all the systems in place to make our operation run smoothly and calmly," he explains. "The thought and planning that goes into developing a concept really helps me do my job and the Company is extremely good about providing clear direction. I've received a prompt and clear answer to every question I've ever asked."