Bojangles’, Inc. Reports Financial Results for Its Fourth Fiscal Quarter and Fiscal Year 2015

CHARLOTTE, N.C., March 10, 2016 -- Bojangles’, Inc. (Bojangles’) (NASDAQ:BOJA) today announced financial results for the 13-week fourth fiscal quarter and 52-week fiscal year ended December 27, 2015. We also introduced guidance for the fiscal year 2016, which is a 52-week period ending on December 25, 2016.

Financial Highlights for the Fourth Fiscal Quarter 2015 Compared to the Fourth Fiscal Quarter 2014

System-wide comparable restaurant sales increased 0.6%;
Total revenues increased 9.6% to $128.8 million from $117.4 million;
16 system-wide restaurants were opened -- 9 company-operated restaurants and 7 franchised restaurants;
Net Income decreased slightly to $7.8 million from $7.9 million;
Pro Forma Net Income* increased 6.9% to $8.2 million from $7.7 million;
Pro Forma Diluted Net Income per Share* increased 4.8% to $0.22 compared to $0.21; and
Adjusted EBITDA* increased 4.8% to $21.3 million from $20.3 million.

Financial Highlights for the Fiscal Year 2015 Compared to the Fiscal Year 2014

System-wide comparable restaurant sales increased 4.1%;
Total revenues increased 13.4% to $488.2 million from $430.5 million;
63 system-wide restaurants were opened -- 29 company-operated restaurants and 34 franchised restaurants;
Net Income increased to $26.5 million from $26.1 million;
Pro Forma Net Income* increased 29.6% to $31.1 million from $24.0 million;
Pro Forma Diluted Net Income per Share* increased 29.7% to $0.83 compared to $0.64; and
Adjusted EBITDA* increased 15.1% to $79.3 million from $68.9 million.

* Pro Forma Net Income, Pro Forma Diluted Net Income per Share and Adjusted EBITDA are non-GAAP measures. Please see “Use and Definition of Non-GAAP Measures” and the reconciliation tables accompanying this release.

“We exceeded our previously-raised annual adjusted EBITDA and earnings guidance, and we extended our record of positive system-wide comparable restaurant sales to 23 consecutive quarters in the face of significant competitive discounting, a competitor introducing breakfast all day, and catastrophic flooding in the Carolinas during the fourth fiscal quarter. Our two- and three-year stacked system-wide comparable restaurant sales for the fourth fiscal quarter increased 7.7% and 10.6%, respectively. I am delighted in what our team accomplished in fiscal 2015 and look forward to what we can achieve in fiscal 2016. Our iconic Bojangles’® brand connects well with customers across all generations with a menu and diversified day-part mix that is distinct from our peers. Bojangles’ is further blessed with strong leadership executing a strategy to create the best guest experience possible at all our restaurants and grow the organization in a smart and measured way,” said Bojangles’ President and CEO Clifton Rutledge.

“We expect to continue delivering on our stated goals through targeted plans for fiscal 2016 that build upon our solid fiscal 2015 performance. We intend to grow the Bojangles’ system by approximately 8% in net unit count this year through development in adjacent areas within the Southeast and infilling in our core North and South Carolina markets. While doing so, we intend to uphold our commitment to operational excellence based upon our people and Bo-Size Service strategies, enhance our technological platform, and foster better awareness and stronger loyalty through social and digital engagement. My enthusiasm for this brand and the opportunities ahead of us is shared by our team members and franchise partners across more than 660 Bojangles’ restaurants,” he concluded.

Fourth Fiscal Quarter 2015 Financial Review
System-wide comparable restaurant sales increased 0.6%, consisting of company-operated and franchised comparable restaurant sales growth of 0.7% and 0.6%, respectively. Comparable restaurant sales growth at company-operated restaurants was due to increases in price, offset by lower transactions and mix.

Total revenues increased 9.6% to $128.8 million in the fourth fiscal quarter of 2015 from $117.4 million in the prior year fiscal quarter. The increase was primarily due to an additional net 40 system-wide restaurants at December 27, 2015 compared to December 28, 2014, and comparable restaurant sales growth at our company-operated and franchised restaurants.

Company restaurant revenues increased 9.9% to $122.2 million in the fourth fiscal quarter of 2015 from $111.2 million in the prior year fiscal quarter. Franchise royalty revenues increased 5.0% to $6.4 million in the fourth fiscal quarter of 2015 from $6.1 million in the prior year fiscal quarter.

Restaurant contribution, a non-GAAP measure, increased 5.8% to $23.1 million in the fourth fiscal quarter of 2015 from $21.8 million in the prior year fiscal quarter. As a percentage of company restaurant revenues, restaurant contribution margin, a non-GAAP measure, decreased to 18.9% in the fourth fiscal quarter of 2015 from 19.6% in the prior year fiscal quarter.

General and administrative expenses increased 8.8% to $10.2 million in the fourth fiscal quarter of 2015 from $9.3 million in the prior year fiscal quarter. The increase was primarily due to additional positions added to support an increased number of restaurants in our system, additional costs as a result of operating as a public company, and $0.4 million in expenses incurred in connection with the transition to a new distributor, partially offset by a reduction in performance-based incentive compensation.

Adjusted EBITDA increased 4.8% to $21.3 million in the fourth fiscal quarter of 2015 from $20.3 million in the prior year fiscal quarter.

Net Income was $7.8 million in the fourth fiscal quarter of 2015 compared to $7.9 million in the prior year fiscal quarter.

Pro Forma Net Income increased 6.9% to $8.2 million in the fourth fiscal quarter of 2015 compared to $7.7 million in the prior year fiscal quarter. Pro Forma Diluted Net Income per Share was $0.22 in the fourth fiscal quarter of 2015 compared to $0.21 in the prior year fiscal quarter.

Fiscal Year 2016 Guidance

Bojangles’ introduced its annual guidance for the 52-week period ending on December 25, 2016:

Total revenues of $533.0 million to $543.0 million;
System-wide comparable restaurant sales growth of low-single digits;
The opening of 60 to 65 system-wide restaurants;
- 28 to 29 company-operated restaurants;
- 32 to 36 franchised restaurants;
Net increase of 53 to 58 system-wide restaurants;
- 26 to 27 net increase of company-operated restaurants;
- 27 to 31 net increase of franchised restaurants;
Restaurant contribution margin of 17.6% to 18.1%;
General and administrative expenses between $40.0 million and $41.5 million;
Pro Forma Diluted Net Income per Share of $0.86 to $0.90; and
Adjusted EBITDA of $83.5 million to $86.5 million.

Conference Call and Webcast Today
Bojangles’ will host a conference call and webcast to discuss the fourth fiscal quarter and fiscal year 2015 results and fiscal year 2016 guidance today at 5:00 p.m. Eastern Time. The conference call dial-in numbers are 1-877-705-6003 for domestic toll-free calls and 1-201-493-6725 for international. A telephone replay will be available through April 10, 2016 and may be accessed by dialing 1-877-870-5176 for domestic toll-free calls and 1-858-384-5517 for international. The conference ID is 13630426.

The conference call will also be webcast live and later archived on the Investor Relations section of our website at www.bojangles.com.

Conference Participation
Bojangles’ will participate in the Bank of America Merrill Lynch 2016 Consumer & Retail Tech Conference on Wednesday, March 16, 2016 at The New York Palace Hotel in New York City. In addition to holding investor meetings, we will webcast our presentation live beginning at 8:50 a.m. Eastern Time. The presentation will later be archived on the Investor Relations section of the Company's website at www.bojangles.com.

About Bojangles’, Inc.
Bojangles', Inc. is a highly differentiated and growing restaurant operator and franchisor dedicated to serving customers high-quality, craveable food made from our Southern recipes. Founded in 1977 in Charlotte, NC, Bojangles' serves menu items such as delicious, famous chicken, made-from-scratch buttermilk biscuits, flavorful fixin's and Legendary Iced Tea®. At December 27, 2015, Bojangles' had 662 system-wide restaurants, of which 281 were company-operated and 381 were franchised restaurants, primarily located in the Southeastern United States. For more information, visit www.bojangles.com or follow Bojangles' on Facebook and Twitter.

Use and Definition of Non-GAAP Measures
We utilize certain non-GAAP measures when assessing the operational strength and the performance of our business. Bojangles’ cautions that non-GAAP measures should be considered in addition to, but not as a substitute for, reported GAAP results.

Comparable restaurant sales reflects the change in year-over-year sales for the comparable restaurant base (as applicable, system-wide, franchised or company-operated restaurants). A restaurant enters our comparable restaurant base the first full day of the month after being open for 15 months using a mid-month convention.

Restaurant contribution is defined as company restaurant revenues less food and supplies costs, restaurant labor costs and operating costs, as identified by the reconciliation table below. Restaurant contribution margin is defined as restaurant contribution as a percentage of company restaurant revenues. Restaurant contribution and restaurant contribution margin are supplemental measures of operating performance of our company-operated restaurants and our calculations thereof may not be comparable to those reported by other companies. Restaurant contribution and restaurant contribution margin have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of our results as reported under GAAP.

Pro Forma Net Income represents company net income before items that we do not consider representative of our ongoing operating performance, as well as an estimate of recurring incremental legal, accounting, insurance and other operating and compliance costs we expect to incur as a public company for those periods where they had not yet been incurred, both as identified in the reconciliation table below. Pro Forma Diluted Net Income per Share represents company diluted net income per share before items that we do not consider representative of our ongoing operating performance, as well as an estimate of recurring incremental legal, accounting, insurance and other operating and compliance costs we expect to incur as a public company for those periods where they had not yet been incurred, both as identified in the reconciliation table below.

EBITDA represents company net income before interest expense (net of interest income), provision for income taxes and depreciation and amortization. Adjusted EBITDA represents company net income before interest expense (net of interest income), provision for income taxes, depreciation and amortization, items that we do not consider representative of our ongoing operating performance and certain non-cash items, as identified in the reconciliation table below.

Pro Forma Net Income, Pro Forma Diluted Net Income per Share, EBITDA and Adjusted EBITDA are supplemental measures of our performance that are neither required by, nor presented in accordance with, GAAP. Pro Forma Net Income, Pro Forma Diluted Net Income per Share, EBITDA and Adjusted EBITDA are not measurements of our financial performance under GAAP and should not be considered as alternatives to net income, operating income or any other performance measures derived in accordance with GAAP or as alternatives to cash flow from operating activities as a measure of our liquidity. In addition, in evaluating Pro Forma Net Income, Pro Forma Diluted Net Income per Share, EBITDA and Adjusted EBITDA, you should be aware that in the future we will incur expenses or charges such as those added back to calculate Pro Forma Net Income, Pro Forma Diluted Net Income per Share, EBITDA and Adjusted EBITDA.

Forward-Looking Statements
This release contains forward-looking statements. All statements other than statements of historical fact included in this release are forward-looking statements. Forward-looking statements discuss our current expectations, projections and guidance relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements may be preceded by, followed by or include the words “aim,” “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “outlook,” “plan,” “potential,” “project,” “projection,” “seek,” “may,” “could,” “would,” “will,” “should,” “can,” “can have,” “likely,” the negatives thereof and other words and terms of similar meaning.

Forward-looking statements are inherently subject to risks, uncertainties and assumptions; they are not guarantees of performance. Actual results may differ materially from these expectations due to risks relating to our vulnerability to changes in consumer preferences and economic conditions; our ability to open new restaurants and expand our franchise system; our ability to generate comparable restaurant sales growth; financial or other difficulties which could cause our restaurants and our franchisees’ restaurants to close; our ability to generate increased sales or profits from new menu items, advertising campaigns and restaurant designs and remodels; cancellation or delay in anticipated future restaurant openings; our reliance on, limited degree of control over and potential liability for, our franchisees; increases in the cost of chicken, pork, dairy, wheat, corn and other products; our ability to compete successfully with other quick-service and fast-casual restaurants; our vulnerability to conditions in the Southeastern United States; negative publicity, whether or not valid; concerns about food safety and quality and about food-borne illnesses, including adverse public perception due to the occurrence of avian flu, swine flu or other food-borne illnesses; and our dependence upon frequent and timely deliveries of restaurant food and other supplies. For further details and discussion of these and other risks and uncertainties, see our registration statement on Form S-1 (commission file number 333-203268), which was declared effective by the Securities and Exchange Commission on May 7, 2015, our periodic reports, including our current reports on Form 8-K and quarterly reports on Form 10-Q, furnished or filed with the Securities and Exchange Commission and available at www.sec.gov. You should not place undue reliance on these statements. We have based these forward-looking statements on our current expectations and projections about future events. Although we believe that our assumptions made in connection with the forward-looking statements are reasonable, we cannot assure you that the assumptions and expectations will prove to be correct.

All forward-looking statements are expressly qualified in their entirety by the foregoing cautionary statements. In addition, all forward-looking statements speak only as of the date of this earnings release. We undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise other than as required under the federal securities laws.

BOJANGLES’, INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Balance Sheets
(in thousands)

Assets				December 27, 2015	December 28, 2014
Current assets:
	Cash and cash equivalents		$	14,263		13,201
	Accounts and vendor receivables, net			4,736		4,285
	Accounts receivable, related parties, net			403		736
	Inventories, net			3,080		2,743
	Other current assets			5,639		2,669
		Total current assets		28,121		23,634
	Property and equipment, net			48,137		42,478
	Goodwill			161,140		161,140
	Brand			290,500		290,500
	Franchise rights, net			25,341		26,438
	Favorable leases, net			1,394		1,908
	Deferred debt issuance costs, net			2,459		2,726
	Other noncurrent assets			3,673		3,819
		Total assets	$	560,765		552,643
Liabilities and Stockholders’ Equity
Current liabilities:
	Accounts payable		$	17,893		15,639
	Accrued expenses			19,086		18,479
	Current maturities of long-term debt			—		—
	Current maturities of capital lease obligations			5,968		4,365
	Other current liabilities			2,155		1,655
		Total current liabilities		45,102		40,138
	Long-term debt, less current maturities			200,194		228,249
	Deferred income taxes			115,028		116,589
	Capital lease obligations, less current maturities			21,483		20,144
	Other noncurrent liabilities			11,834		9,771
		Total liabilities		393,641		414,891
Stockholders’ equity:
	Preferred stock			—		172,691
	Common stock			360		—
	Additional paid-in capital			119,084		(56,220	)
	Retained earnings			47,661		21,135
	Accumulated other comprehensive income			19		146
		Total stockholders’ equity		167,124		137,752
		Total liabilities and stockholders’ equity	$	560,765		552,643

BOJANGLES’, INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)

				Thirteen Weeks Ended						Fiscal Year Ended
				December 27, 2015			December 28, 2014			December 27, 2015			December 28, 2014
Revenues:
	Company restaurant revenues		$		122,223			111,199			462,138			406,788
	Franchise royalty revenues				6,364			6,059			25,104			22,746
	Other franchise revenues				193			191			960			938
		Total revenues			128,780			117,449			488,202			430,472
Company restaurant operating expenses:
	Food and supplies costs				40,055			36,604			150,563			133,191
	Restaurant labor costs				32,305			29,881			126,380			112,506
	Operating costs				26,796			22,909			100,916			88,476
	Depreciation and amortization				3,078			2,568			11,456			9,713
		Total Company restaurant operating expenses			102,234			91,962			389,315			343,886
		Operating income before other operating expenses			26,546			25,487			98,887			86,586
Other operating expenses:
	General and administrative				10,150			9,333			42,844			32,107
	Depreciation and amortization				735			649			2,809			2,372
	Impairment				1,002			484			1,210			484
	Loss on disposal of property and equipment				104			31			336			60
		Total other operating expenses			11,991			10,497			47,199			35,023
		Operating income			14,555			14,990			51,688			51,563
Amortization of deferred debt issuance costs					(198	)		(186	)		(821	)		(733	)
Interest income					1			1			7			2
Interest expense					(1,920	)		(2,279	)		(8,314	)		(9,123	)
		Income before income taxes			12,438			12,526			42,560			41,709
Income taxes					4,594			4,615			16,034			15,589
		Net income	$		7,844			7,911			26,526			26,120


Net income per share:
		Basic	$		0.22			—			1.15			—
		Diluted	$		0.21			0.21			0.71			0.70


Weighted average shares used in computing net income per share:
		Basic			35,979			—			23,118			—
		Diluted			37,436			37,348			37,464			37,429

BOJANGLES’, INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Cash Flows
(in thousands)

					Fiscal Year Ended
					December 27, 2015			December 28, 2014
Cash flows from operating activities:
	Net income			$		26,526			26,120
	Adjustments to reconcile net income to net cash provided by operating activities:
		Deferred income tax benefit				(1,992	)		(980	)
		Depreciation and amortization				14,265			12,085
		Amortization of deferred debt issuance costs				821			733
		Impairment				1,210			484
		Loss on disposal of property and equipment				336			60
		Provision for doubtful accounts				239			78
		Provision for inventory spoilage				23			9
		Provision for closed stores				36			102
		Stock-based compensation				1,963			1,420
		Excess tax benefit from stock-based compensation				(680	)		(49	)
		Changes in operating assets and liabilities				2,779			1,581
			Net cash provided by operating activities			45,526			41,643
Cash flows from investing activities:
	Purchases of franchisee's assets					(186	)		(3,187	)
	Purchases of property and equipment					(12,047	)		(7,495	)
	Proceeds from disposition of property and equipment					47			13
			Net cash used in investing activities			(12,186	)		(10,669	)
Cash flows from financing activities:
	Proceeds from borrowings on long-term debt								50,000
	Principal payments on long-term debt					(28,055	)		(21,376	)
	Debt issuance costs					(554	)		(720	)
	Distribution to stockholders					—			(50,000	)
	Stock option settlement					—			(172	)
	Stock option exercise					330			—
	Excess tax benefit from stock-based compensation					680			49
	Principal payments on capital lease obligations					(4,679	)		(4,010	)
			Net cash used in financing activities			(32,278	)		(26,229	)
			Net increase in cash and cash equivalents			1,062			4,745
Cash and cash equivalents balance, beginning of fiscal year						13,201			8,456
Cash and cash equivalents balance, end of fiscal year				$		14,263			13,201

BOJANGLES’, INC. AND SUBSIDIARIES
Unaudited Reconciliation of Net Income to EBITDA and Adjusted EBITDA
(in thousands)

		Thirteen Weeks Ended		Fiscal Year Ended
		December 27, 2015	December 28, 2014	December 27, 2015	December 28, 2014
Net income	$	7,844	7,911	26,526		26,120
Income taxes		4,594	4,615	16,034		15,589
Interest expense, net		1,919	2,278	8,307		9,121
Depreciation and amortization (a)		4,011	3,403	15,086		12,818
EBITDA		18,368	18,207	65,953		63,648
Non-cash rent (b)		474	371	1,642		1,513
Stock-based compensation (c)		264	336	1,991		1,420
Preopening expenses (d)		475	373	1,540		1,358
Sponsor and board member fees and expenses (e)		—	297	166		1,059
Certain professional, transaction and other costs (f)		213	233	5,254		805
Employee contract expense (g)		25	—	533		—
Distributor transition costs (h)		377	—	594		—
Impairment and dispositions (i)		1,117	525	1,592		557
Gain from termination of a vendor contract (j)		—	—	—		(1,475	)
Adjusted EBITDA	$	21,313	20,342	79,265		68,885


(a) Includes amortization of deferred debt issuance costs.
(b) Includes deferred rent, which represents the extent to which our rent expense has been above or below our cash rent payments, amortization of favorable (unfavorable) leases and closed store reserves for rent net of cash payments.
(c) Includes non-cash, stock-based compensation, as well as employer payroll taxes associated with stock option exercises related to stock options that were outstanding prior to our initial public offering.
(d) Includes expenses directly associated with the opening of company-operated restaurants and incurred prior to the opening of a company-operated restaurant.
(e) Includes reimbursement of expenses to our sponsor prior to our initial public offering, compensation and expense reimbursement to members of our board prior to our initial public offering and certain non-recurring executive search firm fees incurred on behalf of our board.
(f) Includes certain professional fees and transaction costs related to financing transactions, acquisitions and public offering expenses, third-party consultants for one-time projects and certain executive relocation costs.
(g) Represents a payment liability pursuant to an employment agreement.
(h) Includes legal and other expenses incurred in connection with the transition to our new distributor.
(i) Includes loss on disposal of property and equipment, impairment and cash proceeds on disposals from disposition of property and equipment.
(j) Represents the elimination of a gain from the termination of a contract with a beverage vendor.

BOJANGLES’, INC. AND SUBSIDIARIES
Unaudited Reconciliation of Net Income to Pro Forma Net Income
(in thousands)

		Thirteen Weeks Ended						Fiscal Year Ended
		December 27, 2015			December 28, 2014			December 27, 2015			December 28, 2014
Net income	$		7,844			7,911			26,526			26,120

Certain professional and transaction costs (a)			213			247			5,254			453
Incremental public company costs (b)			(41	)		(600	)		(940	)		(2,400	)
Stock-based compensation (c)			12			—			736			—
Employee contract expense (d)			25			—			533			—
Distributor transition costs (e)			377			—			594			—
Gain from termination of a vendor contract (f)			—			—			—			(1,475	)
State income tax rate change (g)			—			—			(903	)		—
Tax impact of adjustments (h)			(204	)		137			(673	)		1,329
Total adjustments			382			(216	)		4,601			(2,093	)
Pro Forma Net Income	$		8,226			7,695			31,127			24,027



BOJANGLES’, INC. AND SUBSIDIARIES
Unaudited Reconciliation of Diluted Net Income Per Share to Pro Forma Diluted Net Income Per Share

		Thirteen Weeks Ended						Fiscal Year Ended
		December 27, 2015			December 28, 2014			December 27, 2015			December 28, 2014
Diluted net income per share	$		0.21			0.21			0.71			0.70

Certain professional and transaction costs (a)			0.01			0.01			0.14			0.01
Incremental public company costs (b)			—			(0.02	)		(0.03	)		(0.07	)
Stock-based compensation (c)			—			—			0.02			—
Employee contract expense (d)			—			—			0.01			—
Distributor transition costs (e)			0.01			—			0.02			—
Gain from termination of a vendor contract (f)			—			—			—			(0.04	)
State income tax rate change (g)			—			—			(0.02	)		—
Tax impact of adjustments (h)			(0.01	)		0.01			(0.02	)		0.04
Total adjustments			0.01			0.00			0.12			(0.06	)
Pro Forma Diluted Net Income per Share	$		0.22			0.21			0.83			0.64


(a) Includes certain professional fees and transaction costs related to financing transactions, acquisitions and public offering expenses and third-party consultants for one-time projects.
(b) Reflects an estimate of recurring incremental legal, accounting, insurance and other operating and compliance costs we expect to incur as a public company in addition to actual amounts incurred. By its nature, this adjustment involves risks and uncertainties, and the actual costs incurred could be different than this adjustment.
(c) Includes non-cash, stock-based compensation related to the vesting of certain performance based stock option awards, as well as employer payroll taxes associated with stock option exercises related to stock options that were outstanding prior to our initial public offering.
(d) Represents a payment liability pursuant to an employment agreement.
(e) Includes legal and other expenses incurred in connection with the transition to our new distributor.
(f) Represents the elimination of a gain from the termination of a contract with a beverage vendor.
(g) As a result of the recently enacted reduction to the North Carolina corporate income tax rate, we adjusted our deferred income taxes by applying the lower rate, which resulted in a corresponding decrease to income tax expense.
(h) Represents the income tax (expense) benefit associated with the adjustments in (a) through (g) that are deductible for income tax purposes.

BOJANGLES’, INC. AND SUBSIDIARIES
Unaudited Reconciliation of Company Restaurant Revenues to Restaurant Contribution
(in thousands)

		Thirteen Weeks Ended						Fiscal Year Ended
		December 27, 2015			December 28, 2014			December 27, 2015			December 28, 2014
Company restaurant revenues	$		122,223			111,199			462,138			406,788
Food and supplies costs			(40,055	)		(36,604	)		(150,563	)		(133,191	)
Restaurant labor costs			(32,305	)		(29,881	)		(126,380	)		(112,506	)
Operating costs			(26,796	)		(22,909	)		(100,916	)		(88,476	)
Restaurant contribution	$		23,067			21,805			84,279			72,615
Restaurant contribution margin			18.9	%		19.6	%		18.2	%		17.9	%

For Investor Relations Inquiries:
Raphael Gross of ICR
203.682.8253

For Media Inquiries:
Brian Little of Bojangles’ Restaurants, Inc.
704.519.2118

Bojangles’, Inc. Reports Financial Results for Its Fourth Fiscal Quarter and Fiscal Year 2015

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