SEC Comment Letter for O CHARLEYS INC (CIK 0000864233) — Aug 11, 2005
O CHARLEYS INC (CIK 0000864233)
Date: Aug. 11, 2005 · CIK: 0000864233 · Accession: 0000000000-05-041470
AI Filing Summary & Sentiment
File numbers found in text: 000-18629
Referenced dates: August 5, 2005
Letter
Mail stop 3561 August 11, 2005 Mr. Gregory L. Burns Chief Executive Officer and Chairman of the Board O`Charley`s Inc. 3038 Sidco Drive Nashville, TN 37204
Re: O`Charley`s Inc. Form 10-K for the year ended December 26, 2004 File No. 000-18629 Filed March 28, 2005
Dear Mr. Burns:
We have reviewed your response letter dated August 5, 2005 and have the following comments. Where indicated, we think you should revise your document in response to these comments. If you disagree, we will consider your explanation as to why our comment is inapplicable or a revision is unnecessary. Please be as detailed as necessary in your explanation. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. After reviewing this information, we may raise additional comments.
Please understand that the purpose of our review process is to assist you in your compliance with the applicable disclosure requirements and to enhance the overall disclosure in your filing. We look forward to working with you in these respects. We welcome any questions you may have about our comments or any other aspect of our review. Feel free to call us at the telephone numbers listed at the end of this letter.
Form 10-K for the year ended December 26, 2004 1. We note your response to prior comments 6-8. In this regard, FAS 5 indicates that companies should accrue for contingencies that are probable and reasonably estimable. If a potential loss is not reasonably estimable, but a material loss is reasonably possible, then management should disclose the nature of the contingency and an estimate of the possible loss or range of loss. In our view, vague or overly broad disclosures that simply reference general risks or litigation are not sufficient for an investor to understand the specific types of contingencies that management is evaluating. As such, management should make every effort to provide investors with an estimate of the possible loss or range of loss for the Hepatitis A litigation in future filings. For additional guidance regarding contingencies, refer to the December 6, 2004 SEC staff speech delivered by Scott Taub at the 2004 AICPA National Conference on Current SEC and PCAOB Developments.
* * * * *
Please file your response to our comments via EDGAR within 10 business days from the date of this letter. Please understand that we may have additional comments after reviewing your response. You may contact Tracie Northan at 202-551-3311 or me at 202-551- if you have any questions on our comments.
Sincerely,
Michael Fay
Branch Chief Accountant
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<TEXT>
Mail stop 3561
August 11, 2005
Mr. Gregory L. Burns
Chief Executive Officer and Chairman of the Board
O`Charley`s Inc.
3038 Sidco Drive
Nashville, TN 37204
Re: O`Charley`s Inc.
Form 10-K for the year ended December 26, 2004
File No. 000-18629
Filed March 28, 2005
Dear Mr. Burns:
We have reviewed your response letter dated August 5, 2005
and
have the following comments. Where indicated, we think you should
revise your document in response to these comments. If you
disagree,
we will consider your explanation as to why our comment is
inapplicable or a revision is unnecessary. Please be as detailed
as
necessary in your explanation. In some of our comments, we may
ask
you to provide us with information so we may better understand
your
disclosure. After reviewing this information, we may raise
additional comments.
Please understand that the purpose of our review process is
to
assist you in your compliance with the applicable disclosure
requirements and to enhance the overall disclosure in your filing.
We look forward to working with you in these respects. We welcome
any questions you may have about our comments or any other aspect
of
our review. Feel free to call us at the telephone numbers listed
at
the end of this letter.
Form 10-K for the year ended December 26, 2004
1. We note your response to prior comments 6-8. In this regard,
FAS
5 indicates that companies should accrue for contingencies that
are
probable and reasonably estimable. If a potential loss is not
reasonably estimable, but a material loss is reasonably possible,
then management should disclose the nature of the contingency and
an
estimate of the possible loss or range of loss. In our view, vague
or
overly broad disclosures that simply reference general risks or
litigation are not sufficient for an investor to understand the
specific types of contingencies that management is evaluating. As
such, management should make every effort to provide investors
with
an estimate of the possible loss or range of loss for the
Hepatitis A
litigation in future filings. For additional guidance regarding
contingencies, refer to the December 6, 2004 SEC staff speech
delivered by Scott Taub at the 2004 AICPA National Conference on
Current SEC and PCAOB Developments.
* * * * *
Please file your response to our comments via EDGAR
within
10 business days from the date of this letter. Please understand
that we may have additional comments after reviewing your
response.
You may contact Tracie Northan at 202-551-3311 or me at 202-551-
3812
if you have any questions on our comments.
Sincerely,
Michael Fay
Branch Chief Accountant
Via facsimile: Lawrence E. Hyatt, CFO
(615) 782-5043
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Mr. Gregory L. Burns
O'Charley's Inc.
August 11, 2005
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