EX-20 2 ex20.htm EXHIBIT 20 ex20.htm

Exhibit 20

 

For Immediate Release

September 24, 2015

  

BOWL AMERICA REPORTS FISCAL YEAR EARNINGS

 

Bowl America Incorporated today reported earnings per share for its fiscal fourth quarter were $.04 and for the 2015 fiscal year were $.32. Earnings per share for the prior year fourth quarter were $.01 and were $.27 for the 2014 fiscal year.

 

A more detailed explanation of results is available in the Company’s Form 10-K filing available through the website www.bowlamericainc.com. Bowl America operates 18 bowling centers and its Class A common stock trades on the NYSE MKT under the symbol BWLA.

 

* * * *

BOWL AMERICA INCORPORATED

Results of Operations

 

   

Thirteen

   

Thirteen

   

Fifty-two

   

Fifty-two

 
   

Weeks Ended

   

Weeks Ended

   

Weeks Ended

   

Weeks Ended

 
   

06/28/15

   

06/29/14

   

06/28/15

   

06/29/14

 

Operating Revenues

                               

Bowling and other

  $ 3,496,787     $ 3,314,871     $ 16,308,611     $ 16,094,493  

Food, beverage and merchandise sales

    1,511,945       1,440,973       6,815,930       6,685,524  
      5,008,732       4,755,844       23,124,541       22,780,017  

Operating expenses excluding depreciation and amortization

    4,666,279       4,791,628       19,960,091       20,258,255  

Depreciation and amortization

    267,523       272,690       1,254,541       1,323,276  

(Loss) gain on disposition of assets

    (3,854

)

    8,820       (3,854

)

    8,820  

Interest, dividend and other income

    119,747       101,397       494,645       662,693  
                                 

Earnings (loss) from continuing operations before taxes

    190,823       (198,257

)

    2,400,700       1,869,999  

Earnings (loss) earnings from continuing operations

  $ 203,752     $ (28,812

)

  $ 1,640,229     $ 1,373,168  

Loss from discontinued operations-net of tax

    -       (937

)

    -       (2,774

)

                                 

Net Earnings

    203,752       27,875       1,640,229       1,370,394  

Comprehensive Earnings

  $ 294,399     $ 93,851     $ 1,500,514     $ 1,373,168  
                                 

Weighted average shares outstanding

    5,160,971       5,160,971       5,160,971       5,160,971  
                                 

Earnings per share from continuing operations

    .04       .01       .32       .27  

Earnings per share from discontinued operations

    .00       .00       .00       .00  

EARNINGS PER SHARE

    .04       .01       .32       .27  

 

* * * *

SUMMARY OF FINANCIAL POSITION

Dollars in Thousands

 

   

06/28/15

   

06/29/14

 

ASSETS

               

Total current assets including cash and short-term investment of $912 and $2,295

  $ 2,004     $ 3,739  

Property and investments

    30,058       30,625  

TOTAL ASSETS

  $ 32,062     $ 34,364  
                 

LIABILITIES AND STOCKHOLDERS' EQUITY

               

Total current liabilities

  $ 2,888     $ 2,983  

Other liabilities

    2,200       2,402  

Stockholders' equity

    26,974       28,979  

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

  $ 32,062     $ 34,364