-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WH3Abx0X03f8+LZ8Z1CXG8ip3f8k/Tl2XxAfG16fVHvMP57eRMoNlrqPN1uH34Eo g+6cqtkC5qUg5IA+dT433Q== 0000013573-03-000009.txt : 20031015 0000013573-03-000009.hdr.sgml : 20031013 20031014191744 ACCESSION NUMBER: 0000013573-03-000009 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030629 FILED AS OF DATE: 20031015 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BOWL AMERICA INC CENTRAL INDEX KEY: 0000013573 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-AMUSEMENT & RECREATION SERVICES [7900] IRS NUMBER: 540646173 STATE OF INCORPORATION: MD FISCAL YEAR END: 0629 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 001-07829 FILM NUMBER: 03940540 BUSINESS ADDRESS: STREET 1: 6446 EDSALL RD CITY: ALEXANDRIA STATE: VA ZIP: 22312 BUSINESS PHONE: 7039416300 MAIL ADDRESS: STREET 1: P O BOX 1288 CITY: SPRINGFIELD STATE: VA ZIP: 22151 10-K/A 1 r10ka03.txt FORM 10K FILING AMENDED ONLY TO ADD CORRECTED PRESS RELEASE SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 29, 2003 Commission file Number 1-7829 BOWL AMERICA INCORPORATED (Exact name of registrant as specified in its charter.) MARYLAND 54-0646173 (State of Incorporation) (I.R.S. Employer Identification No.) 6446 Edsall Road, Alexandria, Virginia 22312 (Address of principal executive offices) (Zip Code) (703)941-6300 Registrant's telephone number, including area code Securities Registered Pursuant to Section 12(b) of the Act: Title of Class Name of Exchange on which registered Common stock (par value $.10) American Stock Exchange Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES [X] NO [ ] Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K, Section 229.405 of this Chapter, is not contained herein, and will not be contained to the best of registrant's knowledge, in definitive Proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendments to this Form 10-K. YES [X] NO [ ] Indicate by check mark whether the registrant is an accelerated filer (as Defined in Exchange Act Rule 12 b-2). YES [ ] NO [X] As of August 18, 2003, 3,670,112 Class A common shares were outstanding, and the aggregate market value of the common shares (based upon the closing price of these shares on the American Stock Exchange) of Bowl America Incorporated held by nonaffiliates was approximately $47 million; 1,468,462 Class B common shares were outstanding. Class B common shareholders have the right to convert their Class B common to Class A common stock on a share for share basis. If the Class B shares were converted to Class A shares as of August 18, 2003, the total aggregate market value for both classes of common stock would be approximately $66 million. (This includes the amount of shares held by all officers and directors as a group and by anyone known to own more than 5% of the stock.) BOWL AMERICA INCORPORATED INDEX TO FISCAL 2003 10-K FILING PART I Page Cover Page Documents Incorporated by Reference Index ITEM 1. Business (a) General Development of Business 1 (b) Financial Information about Industry Segments 1 (c) Narrative Description of Business 1 (d) Foreign Operations 1 ITEM 2. Properties 2 ITEM 3. Legal Proceedings 2 ITEM 4. Submission of Matters to a Vote of Security Holders 2 PART II ITEM 5. Market for Registrant's Common Equity and Related Stockholder Matters 2 ITEM 6. Selected Financial Data 2 ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 2 ITEM 7a.Quantitative and Qualitative Disclosure About Market Risk 2 ITEM 8. Financial Statements and Supplementary Data 3 ITEM 9. Changes in and Disagreements with Accountants and Financial Disclosure 3 ITEM 9A.Controls and Procedures 3 PART III ITEM 10.Directors and Executive Officers of the Registrant 3 ITEM 11.Executive Compensation 3 ITEM 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters (a) Security Ownership of Certain Beneficial Owners 3 (b) Security Ownership of Management 3 (c) Changes in Control 3 (d) Securities Authorized for Issuance Under Equity Compensation Plans 3 BOWL AMERICA INCORPORATED INDEX TO FISCAL 2003 10-K FILING PART III (Continued) Page ITEM 13.Certain Relationships and Related Transactions (a) Transactions with Management and Others 3 (b) Certain Business Relationships 3 (c) Indebtedness of Management 3 (d) Transactions with Promoters 3 ITEM 14.Principal Accountant Fees and Services 3 PART IV ITEM 15.Exhibits, Financial Statements and Reports on Form 8-K (a)1. Financial Statements 4 (a)2. Exhibits 4 (b) Reports on Form 8-K 4 Signatures 5-6 BOWL AMERICA INCORPORATED SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. BOWL AMERICA INCORPORATED Leslie H. Goldberg President and Principal Executive & Operating Officer Date: September 25, 2003 Cheryl A. Dragoo Chief Financial Officer, Assistant Treasurer and Controller Principal Accounting Officer Date: September 25, 2003 BOWL AMERICA INCORPORATED SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and the dates indicated. Name, Title, Capacity Leslie H. Goldberg President, Principal Executive & Operating Officer & Director Date: September 25, 2003 Ruth Macklin A. Joseph Levy Senior Vice President-Treasurer Senior Vice President-Secretary and Director and Director Date: September 25, 2003 Date: September 25, 2003 Warren T. Braham Stanley H. Katzman Director Director Date: September 25, 2003 Date: September 25, 2003 Allan L. Sher Merle Fabian Director Director Date: September 25, 2003 Date: September 25, 2003 Irvin Clark Director Date: September 25, 2003 EX-20 2 pr0903.txt PRESS RELEASE DATED SEPTEMBER 26, 2003 Press Release date September 26, 2003 For Immediate Release September 26, 2003 Better Fourth Quarter at Bowl America Earnings for Bowl America's fiscal fourth quarter which ended June 29, 2003, improved to $.14 per share from $.10 in the like period last year. Earnings for the full fiscal year were down from $.74 to $.70 this year. The rainy spring and summer in the Virginia and Maryland areas significantly boosted traffic at the Company's bowling centers. Additionally, league games that were canceled in February by the winter blizzard were made up in the last quarter. The benefit of the above normal rains continued into the first quarter of fiscal 2004 with both July and August showing improvement over last year. However, some of those gains will be wiped out when the tally of the impact of Hurricane Isabel is complete. The Company suffered from reduced operating hours and the inability to serve food at one time or another in virtually all of its Maryland and Virginia centers. The Company closed on the sale of its money-losing property in Silver Spring, Maryland and hopes to use the proceeds for investment in a bowling property. On September 25, 2003, the Board of Directors declared a dividend of $.125, its newly established rate. Unless circumstances change, this will be the thirty-second year of increased per share dividends for Bowl America. Bowl America operates eighteen bowling centers in Maryland, Virginia and Florida and its stock trades on the American Stock Exchange with the symbol BWLA. Bowl America Incorporated Results of Operations Thirteen weeks ended Fifty-two weeks ended June 29, June 30, June 29, June 30, 2003 2002 2003 2002 Revenues Bowling and other $4,827,804 $4,558,767 $20,574,413 $20,926,272 Food, beverage and merchandise sales 2,050,164 2,044,930 8,801,279 8,974,870 TOTAL REVENUES $6,877,968 $6,603,697 $29,375,692 $29,901,142 Operating expenses excluding depreciation and amortization 5,571,496 5,472,948 22,649,565 22,743,635 Depreciation and amortization 365,087 437,981 1,613,379 1,763,931 Interest and dividend income 106,624 152,169 475,598 598,982 Earnings before taxes 1,048,009 844,937 5,588,346 5,992,558 Net Earnings $ 682,009 $ 518,937 $ 3,583,346 $ 3,818,558 Weighted average shares outstanding 5,134,599 5,141,490 5,145,934 5,132,083 EARNINGS PER SHARE .14 .10 .70 .74 Summary of Financial Position Dollars in Thousands 06/29/03 06/30/02 ASSETS Total current assets including cash and short-term investments of $11,009 & $9,818 $12,608 $11,538 Property and investments 24,929 25,025 TOTAL ASSETS $37,537 $36,563 LIABILITIES AND STOCKHOLDERS' EQUITY Total current liabilities $ 2,711 $ 1,820 Other liabilities 1,873 2,061 Stockholders' equity 32,953 32,682 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $37,537 $36,563 -----END PRIVACY-ENHANCED MESSAGE-----