Note D - Revenues

6 Months Ended

Sep. 26, 2021

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE D – REVENUES

The Company’s disaggregated revenues for the thirteen and twenty-six weeks ended September 26, 2021 and September 27, 2020 are as follows (in thousands):

	Thirteen weeks ended				Twenty-six weeks ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
Branded Products	$	19,063	$	9,698	$	35,059	$	14,447
Company-operated restaurants		4,437		2,994		7,766		4,928
Total sales		23,500		12,692		42,825		19,375
License royalties		7,658		8,268		18,340		18,791
Franchise royalties		1,037		409		1,837		519
Franchise fees		130		67		237		148
Total franchise fees and royalties		1,167		476		2,074		667
Advertising fund revenue		553		403		958		692
Total revenues	$	32,878	$	21,839	$	64,197	$	39,525

The following table disaggregates revenues by primary geographical market (in thousands):

	Thirteen weeks ended				Twenty-six weeks ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
United States	$	31,878	$	21,501	$	62,479	$	38,913
International		1,000		338		1,718		612
Total revenues	$	32,878	$	21,839	$	64,197	$	39,525

Contract balances

The following table provides information about contract receivables and liabilities (deferred franchise fees) from contracts with customers (in thousands):

	September 26, 2021		March 28, 2021
Receivables, which are included in “Accounts and other receivables, net” (a)	$	250	$	-
Deferred franchise fees (b)	$	2,119	$	1,773

(a) Includes receivables related to “franchise fees and royalties”

(b) Deferred franchise fees of $351 and $1,768 as of September 26, 2021 and $237 and $1,536 as of March 28, 2021 are included in Deferred franchise fees – current and long term, respectively.

Significant changes in deferred franchise fees are as follows (in thousands):

	Twenty-six weeks ended
	September 26, 2021			September 27, 2020
Deferred franchise fees at beginning of period		1,773			1,917
Additions to deferred revenue		583			65
Revenue recognized during the period		(237	)		(148	)
Deferred franchise fees at end of period	$	2,119		$	1,834

Anticipated future recognition of deferred franchise fees

The following table reflects the estimated franchise fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period (in thousands):

	Estimate for fiscal year
2022 (a)	$	180
2023		322
2024		301
2025		285
2026		258
Thereafter		773
Total	$	2,119

(a) Represents franchise fees expected to be recognized for the remainder of the 2022 fiscal year, which includes international development fees expected to be recognized over the duration of one year or less. Amount does not include $237 of franchise fee revenue recognized for the twenty-six weeks ended September 26, 2021.