Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES [ ] NO [X]

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YES[ ] NO [X]

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 whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). YES [X] NO [ ]

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K, (Section 229.405) 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. [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Indicate by checkmark whether the registrant is a shell company (as defined by Rule 12b-2 of the Act). YES [ ] NO [X]

As of December 26, 2014, which was the last business day of the registrant's most recently completed second quarter, 3,746,454 Class A common shares were outstanding, and the aggregate market value of the Class A common shares (based upon the closing price of these shares on the NYSE MKT) of Bowl America Incorporated held by non-affiliates of the registrant was approximately $34 million. As of that date 1,414,517 Class B common shares were outstanding. Class B common shareholders have the right to convert their Class B common stock to Class A common stock on a share for share basis. If all of the Class B shares were converted to Class A shares as of December 26, 2014, the total aggregate market value for both classes of common stock held by non-affiliates would be approximately $36 million.

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date:

Portions of registrant's definitive proxy statement, which will be filed with the Commission not later than 120 days after June 28, 2015, are incorporated by reference into Part III of this Form 10-K. The Selected Financial Data (Item 6), Management’s Discussion & Analysis (Item 7), Financial Statements (Item 8) and Management’s Annual Report on Internal Control Over Financial Reporting (Item 9A) attached to this filing as exhibits are incorporated herein by reference.

Bowl America Incorporated (herein referred to as the “Company”) was incorporated in 1958. The Company commenced business with one bowling center in 1958, and at the end fiscal year 2015, the Company and its wholly-owned subsidiaries operated 18 bowling centers.

The Company operates in one segment. Its principal source of revenue consists of fees charged for the use of bowling lanes and other facilities and from the sale of food and beverages for consumption on the premises. At the end of the fiscal year 2015, the Company had operating revenues from continuing operations of approximately $23.1 million, and approximately $32 million in total assets. Merchandise sales, including food and beverages, were approximately 29% of operating revenues. The balance of operating revenues (approximately 71%) represents fees for bowling and related services. Earnings per share for fiscal 2015 were $0.32.

During fiscal year 2015, the Company operated 10 bowling centers in the greater metropolitan area of Washington, D.C., one bowling center in the greater metropolitan area of Baltimore, Maryland, three bowling centers in the greater metropolitan area of Jacksonville, Florida, and four bowling centers in the greater metropolitan area of Richmond, Virginia. These 18 bowling centers contain a total of 726 lanes.

These establishments are fully air-conditioned with facilities for service of food and beverages, game rooms, rental lockers, and meeting room facilities. All centers provide shoes for rental, and bowling balls are provided free. In addition, each center sells retail bowling accessories. Most locations are equipped for glow-in-the-dark bowling, popular for parties and non-league bowling.

The bowling equipment essential for the Company's operation is readily available. The Company’s major source of equipment is Brunswick Corporation.

The bowling business is a seasonal one, and most of the business takes place from October through May. It is highly competitive, but the Company has managed to maintain its position in the markets in which it operates. The principal method of competition is the quality of service furnished to the Company's customers. Its primary competitor is Bowlmor AMF.

Compliance with federal, state and local environmental protection laws has not materially affected the Company.

The number of persons employed by the Company and its subsidiaries is approximately 500 including approximately 250 full time employees.

The Company owns its general offices which are located at 6446 Edsall Road, Alexandria, Virginia 22312.

Two of the Company's bowling centers are located in leased premises, and the remaining sixteen centers are owned by the Company. The Company's leases expire in fiscal 2020. The specific locations of the bowling centers are discussed under Item 1(c).

There are no material pending legal proceedings other than ordinary routine litigation incidental to the business.

ITEM 5. MARKET FOR THE REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

The principal market on which the Company's Class A Common Stock is traded is the NYSE MKT. The Company's Class B Common Stock is not listed on any exchange and is not publicly traded. Each share of Class B Common Stock can be converted to one share of Class A Common Stock at any time.

The table below presents the high and low sales price of the Company's Class A Common Stock in each quarter of fiscal years 2015 and 2014.

As of September 15, 2015, the approximate number of holders of record of the Company's Class A Common Stock was 297 and of the Company's Class B Common Stock was 23.

The table below presents the quarterly cash dividends per share of Class A Common Stock and Class B Common Stock paid, and the quarter in which the payment was made during fiscal 2015 and 2014.

The Board of Directors decides the amount and timing of any dividend at its quarterly meetings based on its appraisal of the state of the business, the economic climate and estimate of future opportunities at such time.

The information is set forth in the section of Exhibit 99(a) entitled "Selected Financial Data" on page 13 of this Form 10-K and is incorporated herein by reference. Such information should be read in conjunction with the audited financial statements.

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The information is set forth in the section of Exhibit 99(b) entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations" on Pages 9 through 12 of this Form 10-K and is incorporated herein by reference.

The financial statements and notes thereto are set forth in Exhibit 99(c) on pages 16 through 28 of this Form 10-K and is incorporated herein by reference. Supplementary data is not required.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

The Company's disclosure controls and procedures are designed to provide reasonable assurance that information required to be disclosed by it in its periodic reports filed with the Securities and Exchange Commission is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules and forms. Based on an evaluation of the Company’s disclosure controls and procedures conducted by the Company’s Chief Executive Officer and Chief Financial Officer, such officers concluded that the Company's disclosure controls and procedures were effective as of June 28, 2015. Additionally, the Company’s officers concluded that the Company’s disclosure controls and procedures were effective as of June 28, 2015 to ensure that information required to be disclosed in the reports filed under the Exchange Act was accumulated and communicated to management, including the Company’s Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosures.

In accordance with Section 404(a) of the Sarbanes-Oxley Act of 2002 and Item 308(a) of Regulation S-K, the report of management on the Company’s internal control over financial reporting is set forth in Exhibit 99(d) in this Annual Report on Form 10-K and is included herein by reference.

There was no change in the Company’s internal control over financial reporting that occurred during the fourth quarter ended June 28, 2015 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

Pursuant to General Instruction G(3) of Form 10-K, the information called for by this item regarding directors and executive officers is hereby incorporated by reference from the Company's definitive proxy statement to be filed pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this report.

Pursuant to General Instruction G(3) of Form 10-K, the information called for by this item is hereby incorporated by reference from the Company's definitive proxy statement to be filed pursuant to Regulation 14A not later than 120 days after the end of the fiscal year covered by this report.

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

The following consolidated financial statements of Bowl America Incorporated and its subsidiaries are incorporated by reference in Part II, Item 8:

Consolidated statements of earnings and comprehensive earnings - years ended June 28, 2015 and June 29, 2014

Consolidated statements of stockholders' equity - years ended June 28, 2015 and June 29, 2014

Consolidated statements of cash flows - years ended June 28, 2015 and June 29, 2014

Notes to the consolidated financial statements - years ended June 28, 2015 and June 29, 2014

3(i)a Articles of Incorporation of the Registrant and amendments through December 1994 thereto (Incorporated by reference from exhibit number 3 to the Annual Report for 1989 on Form 10-K for fiscal year ended July 2, 1995.)

3(i)b Amendment to and restatement of Article FIFTH (b) III 2.2 of the Registrant's Articles of Incorporation (Incorporated by reference from the Registrant's Form 8-K filed December 9, 1994.)

3(ii) By-laws of the Registrant (Incorporated by reference from exhibit 3 to the Registrant’s Annual Report on Form 10-K for fiscal year ended July 2, 1989.)

10.1 Amended Employment Agreement, dated as of June 22, 2015, between the Company and Leslie H. Goldberg (incorporated by reference to Exhibit 10.1 to Form 8-K filed on June 22, 2015).

10.2 Amended Employment Agreement, dated as of June 22, 2015, between the Company and Cheryl A. Dragoo (incorporated by reference to Exhibit 10.1 to Form 8-K filed on June 22, 2015).

21 Subsidiaries of registrant (Incorporated by reference from exhibit number 1 to the Registrant's Annual Report on Form 10-K for fiscal year ended June 30, 2002.)

32 Written statement of Chief Executive and Chief Financial Officers (Section 1350 Certifications)

99(b) Management’s Discussion & Analysis of Financial Condition and Results of Operations (Item 7), set forth as pages 9-12 hereof

99(c) Consolidated Financial Statements (Item 8), set forth as pages 16-28 hereof

99(d) Management’s Annual Report on Internal Control Over Financial Reporting, (Item 9-A) set forth as page 8 hereof

101 Interactive files formatted in XBRL (Extensible Business Reporting Language)

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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.

Exhibit 99(d) Management’s Annual Report on Internal Control Over Financial Reporting

The following sets forth, in accordance with Section 404(a) of the Sarbanes-Oxley Act of 2002 and Item 308(a) of Regulation S-K, the annual report of management of the Company on the Company’s internal control over financial reporting.

1. Management of the Company is responsible for establishing and maintaining adequate internal control over financial reporting in a process designed by, or under the supervision of the Company’s Chief Executive Officer and Chief Financial Officer, and effected by the Company’s Board of Directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that:

2. Management of the Company, in accordance with Rule 13a-15(d) under the Securities Exchange Act of 1934 and with the participation of the Company’s Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of the Company’s internal control over financial reporting as of June 28, 2015. The framework on which management’s evaluation of the Company’s internal control over financial reporting is based is the “Internal Control-Integrated Framework” published in 1992 by the Committee of Sponsoring Organizations (“COSO”) of the Treadway Commission.

3. Management has determined that the Company’s internal control over financial reporting, as of June 28, 2015, was effective. No material weaknesses in the Company’s internal control over financial reporting were identified by management. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

4. This annual report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s independent registered public accounting firm pursuant to a permanent exemption for non-accelerated filers from the internal control audit requirements of Section 404(b) of the Sarbanes-Oxley Act of 2002.

Exhibit 99(b) MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

This Annual Report of Form 10-K contains forward-looking statements concerning our business, operations and financial performance and condition as well as our plans, objectives and expectations for our business operations and financial performance and condition that are subject to risks and uncertainties. All statements other than statements of historical fact included in this Annual Report on Form 10-K are forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business, our sales and the industry in which we operate and our management’s beliefs and assumptions. These statements are not guarantees of future performance or development and involve risks, uncertainties and other factors that are in some cases beyond our control. The forward-looking statements included in this Annual Report on Form 10-K are made as of the date hereof. We are under no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

The Company is in the entertainment business which, by its nature, has ups and downs based on consumer tastes and preferences. Generally, promotional and open play bowling, which depends on the public’s discretionary budget dollars and their choices, accounts for more than half of our business. An unstable economy can lead many to participate in entertainment that is close to home and relatively inexpensive. Bowling has those advantages. However, the longer the economy remains unstable, the less willing people are to spend on other than necessities. Current economic and political conditions continue to create challenges, but our response is helped by having the resources to be able to promote the sport. Weather is also a factor, especially for casual bowlers. While extreme heat or rainy weather prompt people to look for indoor activities, heavy snow storms can keep customers from reaching the centers. Postponed league games are made up later in the season, but lost open play income is never recovered.

The Company views a strong financial position as a major benefit to shareholders and emphasizes payment of dividends as part of its financial plan. A portion of earnings has consistently been invested to create a reserve to protect the Company during downturns in business, to capitalize on opportunities for expansion and modernization and to provide a secure source of income. For these reasons, the Company prefers a conservative approach to investing rather than taking greater risk for possible rapid growth. The Company balances market volatility by using both fixed income and equity investments in managing its reserve funds. Any equity security is subject to price fluctuation, however, the stocks held by the Company have relatively low volatility. The Company has long been invested in a Government National Mortgage Association (“Ginnie Mae”) fund and domestically domiciled stocks with the perceived potential of appreciation, primarily telecommunications stocks. This diversity also provides a measure of safety of principal.

With the exception of 13,120 shares of Verizon, the common stocks in our portfolio have come from spin-offs, mergers and acquisitions of AT&T and United Telecommunications (now Sprint) purchased in 1979 and 1984 and from one insurance company acquired at no cost when that company demutualized. The Company purchased a total of 10,000 shares of Verizon during previous periods at a cost of approximately $430,000 and 3,120 shares of Verizon were received as a special dividend from Vodafone. While not all stocks in the portfolio are domestic American companies any longer, since the original purchases at an approximate cost of $630,000, we have received approximately $967,000 from mergers and sales, and over $4,151,000 in dividends, the majority of which were tax favored in the form of exclusion from federal taxable income. The exclusion continues into the current year. These marketable securities are carried at their fair value on the last day of each reporting period. The fair value of the securities on June 28, 2015 was approximately $5,200,000. The value of securities held at June 29, 2014 was approximately $5,400.000.

The Company’s original investment in the Vanguard GNMA bond fund began in 1988 with purchases of shares in the fund totaling approximately $1,400,000. The fund is carried at fair value on the last day of the reporting period and at June 28, 2015, the value was approximately $3,676,000. In August 2015 approximately $1,000,000 of this fund was redeemed to meet the August 2015 dividend payment.

Short-term investments consisting mainly of Certificates of Deposits, and cash and cash equivalents totaled $912,000 at the end of fiscal 2015 compared to $2,295,000 at the end of fiscal 2014.

The Company's position in all the above investments is a source of expansion capital. Potential volatility in the trading prices of the marketable securities held by the Company could impact the Company’s opportunities for expansion. The Board of Directors reviews the portfolio weekly and any use of this reserve at its quarterly meetings. The Company has made no application for third party funding as cash and cash flows are currently sufficient to finance all contemplated purchases and to meet short-term purchase commitments and operating lease commitments.

Cash flow provided by operating activities for the year ended June 28, 2015, was $3,053,000. Equipment purchases during fiscal year 2015 used approximately $797,000. Proceeds from Ginnie Mae dividends totaling approximately $112,600 in fiscal year 2015 were used to purchase additional shares in the fund. Short-term cash was used to meet the balance of $3,509,000 required to pay regular dividends during the fiscal year.

The Company paid cash dividends totaling approximately $3.5 million, or $.68 per share, to shareholders during the 2015 fiscal year, making this the forty-third consecutive year of increased regular dividends per share. In June 2015, the Company declared a quarterly $.17 per share dividend, paid in August 2015. The economic climate is part of the consideration at the Directors quarterly reviews of future estimates of cash flows. The Board of Directors decides the amount and timing of any dividend at its quarterly meeting based on its appraisal of the state of the business and estimate of opportunities at such time.

The following table sets forth the items in our consolidated summary of operations for the fiscal fourth quarters ended June 28, 2015 and June 29, 2014, respectively, and the dollar and percentage changes therein.

The following table sets forth the items in our consolidated summary of operations for the fiscal years ended June 28, 2015 and June 29, 2014, respectively, and the dollar and percentage changes therein.

Net Earnings were $203,752 or $.04 per share for the thirteen week period and $1,640,229 or $.32 per share for the fifty-two week period ended June 28, 2015. Including discontinued operations, for the thirteen week and fifty-two week periods ended June 29, 2014 net earnings were $27,875 or $.01 per share and $1,370,394 or $.27 per share, respectively. Fiscal 2015 and 2014 each consisted of 52 weeks and eighteen centers were in operation throughout both years.

Total operating revenue increased 1.5%, or $345,000, to $23.1 million in fiscal 2015 compared to a decrease of 4.8%, or $1,077,000, to $22.8 million in fiscal 2014. Bowling and other revenue increased $214,000 in fiscal 2015 versus a decrease of $820,000 in fiscal 2014. Food, beverage and merchandise sales increased $130,000 in fiscal 2015 and decreased $257,000 in fiscal 2014.

Management believes that open play revenue was lost in both years as a result of snow storms in the normally busiest months of fiscal years 2015 and 2014. Promotional pricing throughout both fiscal years also depressed bowling revenue. Management also believes that the capricious nature of the economic recovery and federal tax and spending provisions continue to adversely influence customers’ decisions for recreational spending for both league and open play games. The Company continues to review and adjust its budget in light of current economic conditions.

As discussed in more detail below, total operating expenses decreased 1.7%, or $367,000, in fiscal year 2015 versus a decrease of 2.3%, or $514,000 in fiscal 2014. Costs for employee compensation and benefits were down 1% or $110,000 in fiscal 2015 versus a decrease of 4.4% or $507,000 in fiscal 2014. The Company continued to make scheduling adjustments resulting in a decrease in compensation. In addition, group health insurance costs declined primarily due to plan offerings and lower premiums. This category includes contributions to our two benefit plans, both of which are defined contribution plans. The contributions can only be made from profits and there is no additional obligation beyond the current year contribution.

Cost of bowling and other services decreased $159,000 or 2.6% in the year ended June 28, 2015 versus an increase of $14,000 or 0.2% in the prior fiscal year. Maintenance expense decreased $59,000 or 6.2% in fiscal 2015 and rose 26.2% or $198,000 in fiscal year 2014. Snow removal costs in both fiscal years were high due to winter storms. Utility costs were flat in the current fiscal year as declines in telephone expense offset increases in electric and gas expense. and increased 2.9% in fiscal 2014. Supplies expense increased 1% in fiscal 2015 and declined 5.9% in fiscal 2014. Advertising costs decreased 24.8% in fiscal 2015 and 2.4% in the prior year period. Both years included updating interiors at several locations.

Cost of food, beverage and merchandise sales increased $24,000 or 1.2% in fiscal 2015, primarily the result of higher food and beverage sales, and increased $41,000 or 2% in fiscal 2014, primarily due to higher merchandise sales.

Depreciation expenses decreased approximately $69,000 or 5.2% in fiscal 2015 versus a decrease of approximately $99,000 or 7% in the prior year after several large assets became fully depreciated.

Operating income from continuing operations increased 57.9% or $699,000 to $1.9 million in fiscal year 2015 from $1.2 million in fiscal 2014.

Interest and dividend income decreased $168,000 or 25.4% in fiscal 2015. In the prior year the same category increased $228,000 or 52.4% primarily due to the special Vodafone dividend mentioned above and increased holdings in Verizon.

Effective income tax rates on continuing operations for the Company were 31.7% for fiscal 2015 and 26.5% for fiscal 2014, the difference from statutory rates is primarily due to the partial exclusion of dividends received on investments which, in fiscal 2014 was a higher portion of income than in the prior year.

Net earnings from continuing operations in fiscal 2015 were $1.6 million, or $.32 per share, compared to $1.4 million, or $.27 per share in fiscal 2014.

Fiscal 2014 included a net of tax loss of $2,774 from the discontinued Winter Park, Florida location.

We have identified accounting for marketable investment securities as a critical accounting policy due to the significance of the amounts included in our balance sheet. The Company exercises judgment in determining the classification of its investment securities as available-for-sale and in determining their fair value. The Company records these investments at their fair value based on quoted market prices with the unrealized gain or loss recorded in accumulated other comprehensive income, a component of stockholders' equity, net of deferred taxes. Additionally, from time to time the Company must assess whether write-downs are necessary for other than temporary declines in value.

We have identified accounting for the impairment of long-lived assets as a critical accounting policy due to the significance of the amounts included in our balance sheet under the caption of Land, Buildings and Equipment. The Company reviews long-lived assets whenever events or changes indicate that the carrying amount of an asset may not be recoverable. In making such evaluations, the Company compares the expected future cash flows to the carrying amount of the assets. An impairment loss equal to the difference between the assets' fair value and carrying value is recognized when the estimated undiscounted future cash flows are less than the carrying amount. There were no impairment losses recorded in fiscal 2015 or 2014.

We have audited the accompanying Consolidated Balance Sheets of Bowl America Incorporated and Subsidiaries as of June 28, 2015, and the related Consolidated Statements of Earnings and Comprehensive Earnings, Stockholders' Equity and Cash Flows for the year then ended. Bowl America Incorporated and Subsidiaries’ management is responsible for these consolidated financial statements. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Bowl America Incorporated and Subsidiaries as of June 28, 2015, and the results of their operations and their cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

We have audited the accompanying Consolidated Balance Sheets of Bowl America Incorporated and Subsidiaries as of June 29, 2014 and the related Consolidated Statements of Earnings and Comprehensive Earnings, Stockholders' Equity and Cash Flows for the year then ended. Bowl America Incorporated and Subsidiaries’ management is responsible for these consolidated financial statements. Our responsibility is to express an opinion on these consolidated financial statements based on our audits.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Bowl America Incorporated and Subsidiaries as of June 29, 2014, and the results of their operations and their cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

	As of
	June 28,		June 29,
	2015		2014
ASSETS
CURRENT ASSETS:
Cash and cash equivalents (Note 2)	$	778,367	$	842,114
Short-term investments (Note 3)		133,729		1,453,326
Inventories		552,889		520,355
Prepaid expenses and other		488,212		610,416
Income taxes refundable		51,309		312,856
TOTAL CURRENT ASSETS		2,004,506		3,739,067
LAND, BUILDINGS & EQUIPMENT, net (Note 4)		20,417,454		20,887,127
OTHER ASSETS:
Marketable investment securities (Note 3)		8,866,392		8,979,499
Cash surrender value-life insurance		707,592		677,922
Other		66,465		80,165
TOTAL OTHER ASSETS		9,640,449		9,737,586
TOTAL ASSETS	$	32,062,409	$	34,363,780

LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	709,453	$	681,509
Accrued expenses		1,001,754		1,091,098
Dividends payable		877,365		877,365
Other current liabilities		290,833		308,068
Current deferred income taxes (Note 7)		9,113		24,705
TOTAL CURRENT LIABILITIES		2,888,518		2,982,745
LONG-TERM DEFERRED COMPENSATION		28,897		34,088
NONCURRENT DEFERRED INCOME TAXES (Note 7)		2,170,915		2,368,216
TOTAL LIABILITIES		5,088,330		5,385,049

COMMITMENTS AND CONTINGENCIES (Note 5)

STOCKHOLDERS' EQUITY (Note 8)
Preferred stock, par value $10 a share:
Authorized and unissued, 2,000,000 shares		-		-
Common stock, par value $.10 a share:
Authorized, 10,000,000 shares
Class A issued and outstanding 3,746,454		374,645		374,645
Class B issued and outstanding 1,414,517		141,452		141,452
Additional paid-in capital		7,854,108		7,849,814
Accumulated other comprehensive earnings-Unrealized gain on available-for-sale securities, net of tax		2,452,888		2,592,603
Retained earnings		16,150,986		18,020,217
TOTAL STOCKHOLDERS'EQUITY		26,974,079		28,978,731

TOTAL LIABILITIES AND STOCKHOLDERS'EQUITY	$	32,062,409	$	34,363,780

The accompanying notes to the consolidated financial statements are an integral part of these financial statements.

	For the Years Ended
	June 28,			June 29,
	2015			2014
Operating Revenues:
Bowling and other	$	16,308,611		$	16,094,493
Food, beverage and merchandise sales		6,815,930			6,685,524
Total Operating Revenue		23,124,541			22,780,017

Operating Expenses:
Employee compensation and benefits		11,014,082			11,124,100
Cost of bowling and other services		5,950,351			6,109,533
Cost of food, beverage and merchandise sales		2,086,079			2,062,262
Depreciation and amortization		1,254,541			1,323,276
General and administrative		909,579			962,360
Total Operating Expense		21,214,632			21,581,531
(Loss) gain on disposal of land, buildings and equipment		(3,854	)		8,820
Operating Income		1,906,055			1,207,306
Interest, dividend and other income		494,645			662,693
Earnings from continuing operations before provision for income taxes		2,400,700			1,869,999
Provision for income taxes from continuing Operations (Note 7)
Current		886,134			723,999
Deferred		(125,663	)		(227,168	)
		760,471			496,831
Earnings from continuing operations	$	1,640,229		$	1,373,168
(Loss) from discontinued operations, net of tax (Note 10)		-			(2,774	)
Net Earnings		1,640,229			1,370,394
Earnings per share-basic & diluted
Continuing operations	$	.32		$	.27
Discontinued operations		.00			.00
Net Earnings		.32			.27

Weighted average shares outstanding		5,160,971			5,160,971

Dividends paid	$	3,509,460		$	3,406,243

Per share, dividends paid, Class A	$	0.68		$	0.66

Per share, dividends paid, Class B	$	0.68		$	0.66

Net Earnings	$	1,640,229		$	1,370,394
Other comprehensive earnings- net of tax Unrealized (loss) gain on available-for–sale securities net of tax (benefit) of ($85,995) and $4,666		(139,715	)		7,578
Comprehensive earnings	$	1,500,514		$	1,377,972

The accompanying notes to the consolidated financial statements are an integral part of these financial statements.

	COMMON STOCK										Accumulated
	Class A Shares		Class A Amount		Class B Shares		Class B Amount		Additional Paid-In Capital		Other Comprehensive Earnings			Retained Earnings
Balance, June 30, 2013		3,746,454	$	374,645		1,414,517	$	141,452	$	7,849,814	$	2,584,020		$	20,081,870
Cash dividends paid		-		-		-		-		-		-			(2,554,682	)
Accrued dividends declared June 17, 2014 payable August 15, 2014		-		-		-		-		-		-			(877,365	)
Change in unrealized gain on available-for- sale securities (shown net of tax)		-		-		-		-		-		7,578			-
Reclassification adjustment for loss included in net income, net of tax		-		-		-		-		-		1,005			-
Net earnings for the year		-		-		-		-		-		-			1,370,394
Balance, June 29, 2014		3,746,454	$	374,645		1,414,517	$	141,452	$	7,849,814	$	2,592,603		$	18,020,217
Cash dividends paid		-		-		-		-		-		-			(2,632,095	)
Accrued dividends declared June 16, 2015, payable August 12, 2015		-		-		-		-		-		-			(877,365	)
Change in unrealized gain on available-for-sale securities (shown net of tax)		-		-		-		-		-		(139,715	)		-
Repayment of employee loan		-		-		-		-		4,294		-			-
Net earnings for the year		-		-		-		-		-		-			1,640,229
Balance, June 28, 2015		3,746,454	$	374,645		1,414,517	$	141,452	$	7,854,108	$	2,452,888		$	16,150,986

The accompanying notes to the consolidated financial statements are an integral part of these financial statements.

	For the Years Ended
	June 28,			June 29,
	2015			2014
Cash Flows From Operating Activities
Net earnings	$	1,640,229		$	1,370,394
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization (including discontinued operations)		1,254,541			1,323,276
Decrease in deferred income tax		(126,898	)		(205,590	)
(Loss) gain on disposition of assets-net		3,854			(8,820	)
Gain on sale of available-for-sale securities		-			(281	)
Changes in assets and liabilities
Increase in inventories		(32,534	)		(1,176	)
Decrease (increase) in prepaid and other		122,204			(46,825	)
Decrease (increase) in income taxes refundable		261,547			(254,727	)
Decrease in income taxes payable		-			(151,227	)
Decrease in other long-term assets		13,700			4,300
Increase (decrease) in accounts payable		27,944			(12,945	)
(Decrease) increase in accrued expenses		(89,344	)		45,453
Decrease in other current liabilities		( 17,235	)		(3,216	)
Decrease in long-term deferred compensation		(5,191	)		(5,106	)

Net cash provided by operating activities		3,052,817			2,053,510

Cash Flows From Investing Activities
Expenditures for land, building and equipment		(796,622	)		(260,794	)
Sale of assets		7,900			38,700
Net sales (purchases) and maturities of short-term investments		1,319,597			(503,511	)
Purchases of marketable securities		(112,603	)		(493,419	)
Proceeds from sale of marketable securities		-			5296
Increase in cash surrender value		(29,670	)		(29,205	)

Net cash provided by (used in) investing activities		388,602			(1,242,933	)

Cash Flows From Financing Activities
Payment of cash dividends		(3,509,460	)		(3,406,243	)
Repayment of stock loan		4,294			-

Net cash used in financing activities		(3,505,166	)		(3,406,243	)

Net Decrease in Cash and Equivalents		(63,747	)		(2,595,666	)

Cash and Equivalents, Beginning of period		842,114			3,437,780

Cash and Equivalents, End of period	$	778,367		$	842,114

Supplemental Disclosures of Cash Flow Information
Cash Paid During the Period for:
Income taxes	$	633,000		$	1,044,000

The accompanying notes to the consolidated financial statements are an integral part of these financial statements.

1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

Organization

Bowl America Incorporated is engaged in the operation of 18 bowling centers, with food and beverage service in each center. Ten centers are located in metropolitan Washington D.C., one center in metropolitan Baltimore, Maryland, four centers in metropolitan Richmond, Virginia, and three centers in metropolitan Jacksonville, Florida. These 18 centers contain a total of 726 lanes. The Company operates in one segment.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiary corporations. All significant inter-company items have been eliminated in the consolidated financial statements.

Fiscal Year

The Company's fiscal year ends on the Sunday nearest to June 30. Fiscal year 2015 ended June 28, 2015, and fiscal year 2014 ended June 29, 2014. Both years consisted of 52 weeks.

Subsequent Events

The Company has evaluated subsequent events through the date of filing these financial statements with the Securities and Exchange Commission on September 24, 2015. In August 2015 approximately $1,000,000 of the federal agency mortgage backed securities (Vanguard GNMA fund) was redeemed to meet the August 2015 dividend payment.

Estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.

Significant estimates include the deferred compensation liability for executives and key employees including survivor benefits, depreciation expense, cash surrender value of officers' life insurance, the Federal and State income taxes (current and deferred), and market assumptions used in estimating the fair value of certain assets such as marketable securities and long-lived assets.

Revenue Recognition

The Company records revenue for fees charged for use of bowling lanes and other facilities at the time the services are provided. Food, beverage and merchandise sales are recorded as revenue at the time the product is given to the customer.

-20-

Depreciation and Amortization

Depreciation and amortization for financial statement purposes are calculated by use of the straight-line method. Amortization of leasehold improvements is calculated over the estimated useful life of the asset or term of the lease, whichever is shorter. The categories of property, plant, and equipment and the ranges of estimated useful lives on which depreciation and amortization rates are based are as follows:

Bowling lanes and equipment (years)	3	-	10
Building and building improvements (years)	10	-	39
Leasehold improvements (years)	5	-	15
Amusement games (years)	3	-	5

Maintenance and repairs and minor replacements are charged to expense when incurred. Major replacements and betterments are capitalized. The accounts are adjusted for the sale or other disposition of property, and the resulting gain or loss is credited or charged to income.

Impairment of Long-Lived Assets

The Company reviews long-lived assets whenever events or changes indicate that the carrying amount of an asset may not be recoverable. In making such evaluations, the Company compares the expected future cash flows to the carrying amount of the assets. An impairment loss, equal to the difference between the assets' fair value and carrying value, is recognized when the estimated undiscounted future cash flows are less than the carrying amount.

Dividends

It is the Company's policy to accrue a dividend liability at the time the dividends are declared.

Advertising Expense

It is the Company's policy to expense advertising expenditures as they are incurred. The Company's advertising expenses for the years ending June 28, 2015, and June 29, 2014, were $325,914 and $433,525, respectively.

Inventories

Inventories are stated at the lower of cost (first-in, first-out method) or market. Inventories consist of resale merchandise including food and beverage and bowling supplies.

Income Taxes

Deferred income tax liabilities and assets are based on the differences between the financial statement and tax bases of assets and liabilities, using tax rates currently in effect. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized.

Investment Securities

All of the Company's readily marketable debt and equity securities are classified as available-for-sale. Accordingly, these securities are recorded at fair value with any unrealized gains and losses excluded from earnings and reported, net of deferred taxes, within a separate component of stockholders' equity until realized. Realized gains or losses on the sale of debt and equity securities are reported in earnings and determined using the adjusted cost of the specific security sold.

Earnings Per Share

Earnings per share basic and diluted, have been calculated using the weighted average number of shares of Class A and Class B common stock outstanding of 5,160,971, for both fiscal years 2015 and 2014.

-21-

Comprehensive Earnings

A consolidated statement of comprehensive earnings reflecting the aggregation of net earnings and unrealized gain or loss on available-for-sale securities, the Company's principal components of other comprehensive earnings, has been presented for the years ended June 28, 2015 and June 29, 2014.

Cash and Cash Equivalents

For purposes of the consolidated statements of cash flows, the Company considers money market funds and certificates of deposits, with original maturities of three months or less to be cash equivalents. The Company maintains cash accounts which may exceed federally insured limits during the year, but does not believe that this results in any significant credit risk.

Other Current Liabilities

Other current liabilities include prize fund monies held by the Company for bowling leagues. The funds are returned to the leagues at the end of the league bowling season. At June 28, 2015 and June 29, 2014 other current liabilities included $278,560 and $291,688, respectively, in prize fund monies.

Reclassifications

Certain previous year amounts have been reclassified to conform with the current year presentation.

Recent accounting guidance not yet adopted

In May 2014, the FASB issued a new standard related to revenue recognition. Under the new standard, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The new standard will be effective for the Company beginning July 1, 2017 and early adoption is not permitted. We are currently evaluating the impact this standard will have on the consolidated financial statements.

In July 2015 the FASB issued a new standard that simplifies measurement of inventory as either the lower of cost or market with market being net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less reasonably predictable completion, disposal and transportation costs. This does not change LIFO and retail inventory method measurements. The standard is effective for fiscal years beginning after December 15, 2016, including interim period within those fiscal years. Earlier application is permitted. We are currently evaluating the impact this standard will have on the consolidated financial statements.

3. INVESTMENTS

The Company’s marketable securities are categorized as available-for-sale securities. The cost for marketable securities was determined using the specific identification method. The fair values of marketable securities are based on the quoted market price for those securities. Short-term investments consist of certificates of deposits with maturities of generally three months to one year. At June 28, 2015, the fair value of short-term investments was $133,729. At June 29, 2014, the fair value of short-term investments was $1,453,326. Non-current investments are marketable securities which primarily consist of telecommunications stocks and a mutual fund that invests in mortgage backed securities. Unrealized gains and losses are reported as a component of accumulated other comprehensive earnings in Stockholders’ Equity.

As of June 28, 2015, the Company had $58,014 of gross unrealized gains from its investments in federal agency mortgage backed securities owned through a mutual fund which had a fair value of $3,676,005. As of June 29, 2014, $100,125 in gross unrealized gains were from its investments in federal agency mortgage backed securities which had a fair value of $3,605,513. The Company’s investments were as follows:

June 28, 2015	Original Cost		Unrealized Gain		Unrealized Loss			Fair Value
Equity securities	$	1,285,759	$	3,910,144	$	(5,516	)	$	5,190,387

Mutual fund		3,617,991		58,014		-			3,676,005

Certificates of deposits		133,729		-		-			133,729

June 29, 2014
Equity securities	$	1,285,759	$	4,089,398	$	(1,171	)	$	5,373,986

Mutual fund		3,505,388		100,125		-			3,605,513

Certificates of deposits		1,453,326		-		-			1,453,326

-23-

During fiscal 2015 and fiscal 2014, the Company had certain equity securities with cumulative unrealized losses of $5,516 and $1,171 respectively. Management believes the unrealized losses are temporary and the Company has the ability and intent to hold these securities long enough to recover its investment.

	Less than 12 months				12 Months or greater					Total
June 28, 2015	Fair Value		Unrealized loss		Fair Value		Unrealized loss			Fair Value		Unrealized loss
Equity securities	$	-	$	-	$	329	$	(5,516	)	$	329	$	(5,516	)

	Less than 12months					12 Months or greater				Total
June 29, 2014	Fair Value		Unrealized loss			Fair Value		Unrealized loss		Fair Value		Unrealized loss
Equity securities	$	4,674	$	(1,171	)	$	-	$	-	$	4,674	$	(1,171	)

The equity securities portfolio includes the following stocks:

82,112	shares of AT&T	4,398	shares of CenturyLink
4,508	shares of Frontier Communications	774	shares of Teradata
412	shares of DexMedia	774	shares of NCR
40,000	shares of Sprint Nextel	31,904	shares of Verizon
6,471	shares of Vodafone	679	shares of Windstream
2,520	shares of Manulife	815	shares of CSAL

During the year ended June 28, 2015 Windstream spun off Communication Sales & Leasing (CSAL) and followed immediately with a 1-for-6 reverse split of Windstream shares.

During the year ended June 29, 2014, the Company purchased 5,000 shares of Verizon. In addition the Company received 3,120 shares of Verizon as a result of Vodafone’s special dividend funded by its sale of Verizon Wireless. LSI was purchased by Anago in an all cash transaction resulting in a gain of $281 on the Company’s holdings of LSI.

As stated in Note 1, the Company records its readily marketable debt and equity securities at fair value. These assets are valued in accordance with a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows:

Level 1. Observable inputs such as quoted prices in active markets for identical assets or liabilities;

Level 2. Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and

Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

-24-

The fair value of these assets as of June 28, 2015 is as follows:

	Quoted		Significant				Unrealized			Cumulative
	Price for		Other		Significant		gains/(losses)			Unrealized
	Identical		Observable		Unobservable		for the			gains/(losses)
	Assets		Inputs		Inputs		Year Ended			as of
Description	(Level 1)		(Level 2)		(Level 3)		June 28, 2015			June 28, 2015

Equity securities	$	5,190,387	$	-	$	-	$	(183,599	)	$	3,904,627

Mutual fund		3,676,005		-		-		(42,111	)		58,014

Certificates of deposits		-		133,729		-		-			-
TOTAL	$	8,866,392	$	133,729		-	$	(225,710	)	$	3,962,641

The fair value of these assets as of June 29, 2014 was as follows:

	Quoted		Significant				Unrealized			Cumulative
	Price for		Other		Significant		gains/(losses)			Unrealized
	Identical		Observable		Unobservable		for the			gains/(losses)
	Assets		Inputs		Inputs		Year Ended			as of
Description	(Level 1)		(Level 2)		(Level 3)		June 29, 2014			June 29, 2014

Equity securities	$	5,373,986	$	-	$	-	$	(70,956	)	$	4,088,226

Mutual fund		3,605,513		-		-		83,200			100,125

Certificates of deposits		-		1,453,326		-		-			-
TOTAL	$	8,979,499	$	1,453,326		-	$	12,244		$	4,188,351

The fair value of certificates of deposits is estimated using net present value techniques and comparing the values to certificates with similar terms.

5. COMMITMENTS AND CONTINGENCIES

Lease Commitments

The Company and its subsidiaries are obligated under long-term real estate lease agreements for two bowling centers. Certain of the Company's real estate leases provide for increases in real estate taxes.

In June 2014, the Company amended a lease for one location for a five year and 3 month period with an option for an additional five year period such that the lease including the five year option now expires in 2024.

At June 28, 2015, the minimum fixed rental commitments related to all non-cancelable leases, were as follows:

Year Ending
2016	$	318,000
2017		318,000
2018		318,000
2019		318,000
2020		33,834
Thereafter		-
Total minimum lease payments	$	1,305,834

Net rent expense was as follows:

	For the Years Ended
	June 28, 2015		June 29, 2014

Minimum rent under operating leases	$	315,500	$	288,000
Excess percentage rents		-		-
	$	315,500	$	288,000

Purchase Commitments

The Company's purchase commitments at June 28, 2015 are for materials, supplies, services and equipment as part of the normal course of business.

7. INCOME TAXES

The Company is required to analyze all material positions it has taken or plans to take in all tax returns that have been filed or should have been filed with all taxing authorities for all years still subject to challenge by those taxing authorities. If the position taken is “more-likely-than-not” to be sustained by the taxing authority on its technical merits and if there is more than a 50% likelihood that the position would be sustained if challenged and considered by the highest court in the relevant jurisdiction, the tax consequences of that position should be reflected in the taxpayer’s financial statements.

The Company had no material unrecognized tax benefits at June 28, 2015 nor does it expect any significant change in that status during the next twelve months. No accrued interest or penalties on uncertain tax positions have been included on the consolidated statements of earnings and comprehensive earnings or the consolidated balance sheet. Should the Company adopt tax positions for which it would be appropriate to accrue interest and penalties, such costs would be reflected in the tax expense for the period in which such costs accrued. The Company is subject to U.S. Federal income tax and to several state jurisdictions. Returns filed for tax periods ending after July 3, 2011 are still open to examination by those relevant taxing authorities.

The significant components of the Company's deferred tax assets and liabilities were as follows:

	June 28, 2015			June 29, 2014
Deferred tax:
Land, buildings, and equipment	$	696,244		$	827,197
Unrealized gain on available-for-sale securities		1,509,633			1,596,862
Prepaid expenses and other		(25,849	)		(31,138	)
Deferred tax liabilities	$	2,180,028		$	2,392,921

Income tax expense differs from the amounts computed by applying the U.S. Federal income tax rate to income before tax for the following reasons:

	For the Years Ended
	2015			2014
Taxes computed at statutory rate		34.0	%		34.0	%
State income taxes, net of Federal income tax benefit		2.8			(4.6	)
Dividends received exclusion		(2.8	)		(6.6	)
All other net		(2.3	)		3.7
		31.7	%		26.5	%

-27-

Income tax expense from continuing operations differs from the amounts computed by applying the U.S. Federal income tax rate to income from continuing operations before tax for the following reasons:

	For the Years Ended
	2015			2014
Taxes computed at statutory rate		34.0	%		34.0	%
State income taxes, net of Federal income tax benefit		2.8			(4.6	)
Dividends received exclusion		(2.8	)		(6.6	)
All other net		(2.3	)		3.7
		31.7	%		26.5	%

MARYLAND	54-0646173
(State of Incorporation)	(I.R.S. Employer Identification No.)

Title of Class	Name of Exchange on which registered

Class A Common stock (par value $.10)	NYSE MKT

Large Accelerated Filer [ ]		Accelerated Filer [ ]
Non-accelerated Filer [ ]		Smaller reporting company [X]

	Shares outstanding at September 15, 2015
Class A Common Stock $.10 par value	3,746,454
Class B Common Stock $.10 par value	1,414,517

		Page

	PART I

ITEM 1.	Business
(a)	General Development of Business	1
(b)	Financial Information about Industry Segments	1
(c)	Narrative Description of Business	1
(d)	Financial Information about Geographic Areas	1

ITEM 2.	Properties	2

ITEM 3.	Legal Proceedings	2

ITEM 4.	Mine Safety Disclosures	2

	PART II

ITEM 5.	Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	2

ITEM 6.	Selected Financial Data	3

ITEM 7.	Management's Discussion and Analysis of Financial Condition and Results of Operations	3

ITEM 8.	Financial Statements and Supplementary Data	3

ITEM 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	3

ITEM 9A.	Controls and Procedures	3

	PART III

ITEM 10.	Directors, Executive Officers and Corporate Governance	4

ITEM 11.	Executive Compensation	4

ITEM 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	4

ITEM 13.	Certain Relationships and Related Transactions, and Director Independence	4

ITEM 14.	Principal Accountant Fees and Services	4

	PART IV

ITEM 15.	Exhibits and Financial Statement Schedules
(a)	Financial Statements	5
(b)	Exhibits	5

Signatures		6-7

6446 Edsall Road, Alexandria, Virginia	22312
(Address of principal executive offices)	(Zip Code)

2015	1st Qtr		2nd Qtr		3rd Qtr		4th Qtr
High	$	15.50	$	15.45	$	15.50	$	15.50
Low	$	13.12	$	13.79	$	14.08	$	14.27

Quarter	2015	2014

First	17 cents	16.5 cents
Second	17 cents	16.5 cents
Third	17 cents	16.5 cents
Fourth	17 cents	16.5 cents

/s/ Leslie H. Goldberg
Leslie H. Goldberg
President, Principal Executive & Operating Officer and Director

Date: September 24, 2015

/s/ Ruth Macklin			/s/ Cheryl A Dragoo
Ruth Macklin			Cheryl A Dragoo
Senior Vice President, Secretary, Treasurer and Director			Senior Vice President, Principal Financial & Accounting Officer and Director

Date: September 24, 2015			Date: September 24, 2015

/s/ Warren T. Braham			/s/ Nancy Hull
Warren T. Braham			Nancy Hull
Director			Director

Date: September 24, 2015			Date: September 24, 2015

/s/ Allan L. Sher			/s/ Merle Fabian
Allan L. Sher			Merle Fabian
Director			Director

Date: September 24, 2015			Date: September 24, 2015

/s/ Arthur H. Bill
Arthur H. Bill
Director

Date: September 24, 2015

	Thirteen weeks ended
	June 28, 2015 and June 29, 2014
	Dollars in thousands
	2015			2014			Change			% Change
Operating Revenues:
Bowling and other	$	3,497		$	3,315		$	182			5.5	%
Food, beverage & merchandise sales		1,512			1,441			71			4.9
		5,009			4,756			253			5.3
Operating Expenses:
Compensation & benefits		2,674			2,697			(23	)		(.8	)
Cost of bowling & other		1,285			1,316			(31	)		(2.4	)
Cost of food, beverage & merchandise sales		485			479			6			1.3
Depreciation & amortization		268			273			(5	)		(1.8	)
General & administrative		222			300			(78	)		(26.0	)
		4,934			5,065			(131	)		(2.6	)
(Loss) gain on disposal of assets		(4	)		9			(13	)		(144.4	)
Operating income from continuing operations		71			(300	)		371			123.7
Interest, dividend and other income		120			102			18			17.6
Earnings from continuing operations before taxes		191			(198	)		389			196.5
Income taxes		(13	)		(227	)		214			94.3
Earnings from continuing operations		204			29			175			603.4
(Loss) from discontinued operations net of tax		-			(1	)		1			100.0
Net Earnings	$	204		$	28		$	176			628.6

	Fifty-two weeks ended
	June 28, 2015 and June 29, 2014
	Dollars in thousands
	2015			2014			Change			% Change
Operating Revenues:
Bowling and other	$	16,309		$	16,094		$	215			1.3	%
Food, beverage & merchandise sales		6,816			6,686			130			1.9
		23,125			22,780			345			1.5
Operating Expenses:
Compensation & benefits		11,014			11,124			(110	)		(1.0	)
Cost of bowling & other		5,950			6,110			(160	)		(2.6	)
Cost of food, beverage & merchandise sales		2,086			2,062			24			1.2
Depreciation & amortization		1,255			1,323			(68	)		(5.1	)
General & administrative		910			963			(53	)		(5.5	)
		21,215			21,582			(367	)		(1.7	)
(Loss) gain on disposal of assets		(4	)		9			(13	)		(144.4	)
Operating income from continuing operations		1,906			1,207			699			57.9
Interest, dividend and other income		495			663			(168	)		(25.3	)
Earnings from continuing operations before taxes		2,401			1,870			531			28.4
Income taxes		761			497			264			53.1
Earnings from continuing operations		1,640			1,373			267			19.4
(Loss) from discontinued operations net of tax		-			(3	)		3			100.0
Net Earnings	$	1,640		$	1,370		$	270			19.7

	1395 Piccard Drive, Suite 240
	Rockville, Maryland 20850
	Phone 301.337.3305

	805 King Farm Boulevard
	Rockville, Maryland 20850
	Phone 301.231.6200
	Fax 301.231.7630

	June 28, 2015		June 29, 2014

Demand deposits and cash on hand	$	558,364	$	634,923
Money market funds		220,003		207,191
	$	778,367	$	842,114

	June 28, 2015		June 29, 2014
Buildings	$	18,741,152	$	18,504,838
Leasehold and building improvements		8,102,338		8,069,448
Bowling lanes and equipment		22,404,206		22,230,327
Land		10,526,607		10,526,607
Amusement games		739,007		750,079
Bowling lanes and equipment not yet in use		141,938		164,123
		60,655,248		60,245,422
Less accumulated depreciation and amortization		40,237,794		39,358,295
	$	20,417,454	$	20,887,127

	June 28, 2015		June 29, 2014
Gain on sale of Bowl America Winter Park	$	-	$	-
Loss on Bowl America Winter Park operations		-		(4,268	)
Discontinued operations income (loss) before taxes		-		(4,268	)
Net income tax (benefit) and taxes		-		(1,494	)
(Loss) gain from discontinued operations, net of tax	$	-	$	(2,774	)