-----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, SoCHrapKqxfQr6xhsaz18FhNtXeVMxN5c4O6u//GBlZiPbdCWvdydxfh4wnmk9VZ hGcDdJ0tyhOqnYaLqU7EzA== 0000950117-96-000788.txt : 19960802 0000950117-96-000788.hdr.sgml : 19960802 ACCESSION NUMBER: 0000950117-96-000788 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19960629 FILED AS OF DATE: 19960801 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARK RESTAURANTS CORP CENTRAL INDEX KEY: 0000779544 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] IRS NUMBER: 133156768 STATE OF INCORPORATION: NY FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-09453 FILM NUMBER: 96602293 BUSINESS ADDRESS: STREET 1: 85 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10003-3019 BUSINESS PHONE: 2122068800 MAIL ADDRESS: STREET 2: 85 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10003-3019 10-Q 1 ARK RESTAURANTS CORP. FORM 10-Q SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) / X / QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 29, 1996 / / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number 0-14030 ARK RESTAURANTS CORP. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) New York 13-3156768 - ---------------------------------- -------------------- (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 85 Fifth Avenue, New York, New York 10003 - ---------------------------------------- -------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code (212) 206-8800 -------------------- 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 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 the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Class Outstanding shares at July 29, 1996 - ----------------------------- ----------------------------------- (Common stock, $.01 par value) 3,263,545 ARK RESTAURANTS CORP. AND SUBSIDIARIES - -------------------------------------------------------------------------------- INDEX - --------------------------------------------------------------------------------
PART I - FINANCIAL INFORMATION: PAGE ---- Item 1. Consolidated Financial Statements: Consolidated Condensed Balance Sheets - June 29, 1996 (Unaudited) and September 30, 1995 (Unaudited) 1 Consolidated Condensed Statements of Operations and Retained Earnings -- 13-Week Periods Ended June 29, 1996 (Unaudited) and July 1, 1995 (Unaudited) and 39-Week Periods ended June 29, 1996 (Unaudited) and July 1, 1995 (Unaudited) 2 Consolidated Condensed Statements of Cash Flows - 39-Week Periods Ended June 29, 1996 (Unaudited) and July 1, 1995(Unaudited) 3 Notes to Consolidated Condensed Financial Statements (Unaudited) 4-5 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 6-8 PART II - OTHER INFORMATION: Item 6. Exhibits and Reports on Form 8-K 9
PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS - ---------------------------- ARK RESTAURANTS CORP. AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (Dollars in Thousands) - --------------------------------------------------------------------------------
June 29, September 30, 1996 1995 -------- ------------- ASSETS CURRENT ASSETS: Cash and cash equivalents $ 1,163 $ 1,271 Accounts receivable 1,675 1,274 Current portion of long-term receivables 114 163 Inventories 887 888 Prepaid expenses 624 957 Prepaid income taxes 135 - Other current assets 385 535 Deferred income taxes 396 396 ------- ------- Total current assets 5,379 5,484 LONG-TERM RECEIVABLES 361 1,415 FIXED ASSETS - At Cost: Leasehold improvements 14,816 14,421 Furniture, fixtures and equipment 12,723 12,369 Leasehold improvements in progress 1,615 134 ------- ------- 29,154 26,924 Less accumulated depreciation and amortization 11,944 10,549 ------- ------- 17,210 16,375 INTANGIBLE ASSETS - Less accumulated amortization of $2,435 and $2,488 4,480 4,336 OTHER ASSETS 461 455 DEFERRED INCOME TAXES 677 477 ------- ------- TOTAL ASSETS $28,568 $28,542 ======= ======= LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable - trade $ 2,605 $ 2,036 Accrued expenses and other current liabilities 2,594 2,850 Current maturities of long-term debt 162 89 Current maturities of capital lease obligations 219 204 Accrued income taxes - 265 ------- ------- Total current liabilities 5,580 5,444 LONG-TERM DEBT - net of current maturities 3,683 3,925 OBLIGATIONS UNDER CAPITAL LEASES - net of current maturities 744 930 OPERATING LEASE DEFERRED CREDIT 1,537 1,537 SHAREHOLDERS' EQUITY: Common stock, par value $.01 per share - authorized, 10,000,000 shares; issued, 4,608,882 shares 46 45 Additional paid-in capital 7,665 7,482 Retained earnings 10,561 10,427 ------- ------- 18,272 17,954 Less treasury stock, 1,345,337 shares 1,248 1,248 ------- ------- Total shareholders' equity 17,024 16,706 ------- ------- TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $28,568 $28,542 ======= =======
See notes to consolidated condensed financial statements 1 ARK RESTAURANTS CORP. AND SUBSIDIARIES - --------------------------------------- CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS (Unaudited) (In Thousands, Except per share amounts) - --------------------------------------------------------------------------------
13 Weeks Ended 39 Weeks Ended ------------------ --------------- June 29, July 1, June 29, July 1, 1996 1995 1996 1995 -------- ------- -------- ------- NET SALES $22,601 $21,047 $56,774 $52,164 COST OF SALES 5,916 5,688 15,396 14,383 ------- ------- ------- ------- GROSS RESTAURANT PROFIT 16,685 15,359 41,378 37,781 MANAGEMENT FEE INCOME 316 199 946 776 ------- ------- ------- ------- 17,001 15,558 42,324 38,557 ------- ------- ------- ------- OPERATING EXPENSES Payroll and payroll benefits 7,254 7,511 20,559 19,138 Occupancy 2,561 2,382 7,352 6,464 Depreciation and amortization 669 568 2,007 1,582 Other 3,201 3,053 9,232 8,078 ------- ------- ------- ------- 13,685 13,514 39,150 35,262 GENERAL AND ADMINISTRATIVE EXPENSES 1,138 987 3,368 3,177 ------- ------- ------- ------- 14,823 14,501 42,518 38,439 ------- ------- ------- ------- OPERATING INCOME 2,178 1,057 (194) 118 ----- ------- ------- ------- OTHER EXPENSE (INCOME): Interest expense, net 121 85 331 158 Other income (219) (185) (793) (846) ------- ------- ------- ------ (98) (100) (462) (688) ------- ------- ------- ------ INCOME BEFORE PROVISION FOR INCOME TAXES 2,276 1,157 268 806 PROVISION FOR INCOME TAXES 1,138 521 134 361 ------- ------- ------- ------ NET INCOME 1,138 636 134 445 RETAINED EARNINGS, Beginning of period 9,423 9,115 10,427 9,306 ------- ------ ------- ------- RETAINED EARNINGS, End of period $10,561 $9,751 $10,561 $9,751 ======= ======= ======= ======= NET INCOME PER SHARE $ .35 $ .20 $ .04 $ .14 ===== ===== ===== ===== WEIGHTED AVERAGE NUMBER OF SHARES USED IN COMPUTATIONS 3,262 3,258 3,234 3,248 ======= ======= ======= =======
See notes to consolidated condensed financial statements 2 ARK RESTAURANTS CORP. AND SUBSIDIARIES - -------------------------------------- CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (Dollars in Thousands) - --------------------------------------------------------------------------------
39 Weeks Ended ---------------------- June 29, July 1, 1996 1995 ----------- ------- CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 134 $ 445 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization of fixed assets 1,761 1,408 Amortization of intangibles 354 352 Write-off and provision for uncollectible long-term receivables 81 50 Loss on sale of restaurant 97 - Deferred income taxes (200) 30 Changes in assets and liabilities: Decrease (Increase) in accounts receivable (391) (129) Decrease (Increase) in inventories (37) (113) Decrease (Increase) in prepaid expenses 333 (372) Decrease (Increase) in prepaid income taxes (135) (88) Decrease (Increase) in other assets 139 146 Increase (Decrease) in accounts payable - trade 569 664 Increase (Decrease) in accrued expenses and other current liabilities (402) 841 Increase (Decrease) in accrued income taxes (265) (27) Increase in operating lease deferred credit - 78 ------- ------- Net cash provided by operating activities 2,038 3,285 ------- ------- CASH FLOWS FROM INVESTING ACTIVITIES: Additions to fixed assets (2,158) (5,757) Additions to intangible assets (15) (146) Issuance of long-term receivables (63) (168) Payments received on long-term receivables 143 92 Restaurant sale 250 - Restaurant acquisitions - (2,335) ------- ------- Net cash used in investing activities (1,843) (8,314) ------- ------- CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of long-term debt 1,500 4,250 Principal payment on long-term debt (1,816) (1,814) Proceeds from sales leaseback - 825 Principal payment on capital lease obligations (171) (50) Exercise of stock options 184 96 ------- ------- Net cash provided by financing activities (303) 3,307 ------- ------- NET DECREASE IN CASH AND CASH EQUIVALENTS (108) (1,722) CASH AND CASH EQUIVALENTS, beginning of period 1,271 2,913 ------- ------- CASH AND CASH EQUIVALENTS, end of period $ 1,163 $ 1,191 ======= ======= SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Cash paid during year for: Interest $ 400 $ 287 ======= ======= Income taxes $ 741 434 ======= =======
See notes to consolidated condensed financial statements. 3 ARK RESTAURANTS CORP. AND SUBSIDIARIES - -------------------------------------- NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (Unaudited) - --------------------------------------------------------------------- 1. CONSOLIDATED CONDENSED FINANCIAL STATEMENTS The consolidated condensed financial statements have been prepared by Ark Restaurants Corp. (the "Company"), without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at June 29, 1996 and results of operations and changes in cash flows for the periods ended June 29, 1996 and July 1, 1995 have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. It is suggested that these condensed financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended September 30, 1995. The results of operations for the periods ended June 29, 1996 is not necessarily indicative of the operating results for the full year. 2. ACQUISITIONS In May 1996 the Company acquired a restaurant for $550,000 which was financed by issuing a note payable in monthly installments of $13,461, inclusive of interest until April 1, 2000. The Company had previously leased the furniture, fixtures and leasehold improvements of such restaurant for $900,000 under a three year term which ended in March 1996. The purchase price was allocated to fixed assets ($350,000) and intangible assets (covenant not to compete:$50,000 and goodwill:$100,000). In June 1996 the Company acquired a restaurant which had been operated by the Company under a management agreement since 1991 for $1,026,000 plus the assumption of net liabilities of $88,000. The Company paid $108,000 in cash and canceled advances of $880,000 previously classified as long-term receivables. The purchase price was allocated to fixed assets ($550,000) and intangible assets (goodwill:$418,000 and covenant not to compete:$108,000). 3. LONG-TERM DEBT In March 1996, the Company and its main bank agreed to an extension and increase of the existing Revolving Credit and Term Loan Facility. The agreement includes a $5,000,000 facility for working capital purposes at the Company's existing restaurants and a $7,000,000 facility for use in construction of and as working capital for restaurant facilities to be operated by the Company in a new resort/casino under construction in Las Vegas, Nevada. The facilities each have two year revolving terms at the end of which they will convert into term loans payable over 24 months. The $5,000,000 facility will convert into a two year self-amortizing term loan, and the $7,000,000 facility will convert into a two year loan amortizing $6,000,000 over the two year period with the $1,000,000 balance due at maturity. Outstanding revolving loans bear interest at 1% above the bank's prime rate until converted into term loans, at which time the interest rate is 1 1/2% above the bank's prime rate. The Company paid a commitment fee of $150,000 at closing and a facility of 1/2% is due on any unused portion of the revolving credit facility. 4 The agreement includes a four-year $2,000,000 Letter of Credit Facility for use for the Company's existing restaurants, and a one-year (with a six month extension available at the Company's option), $2,000,000 Letter of Credit Facility for the Las Vegas Project. The Company is generally required to pay commissions of 1 1/2% per annum on outstanding letters of credit. The Company's subsidiaries each guaranteed the obligations of the Company under the foregoing facilities and granted security interests in their respective assets as collateral for such guarantees. In addition, the Company pledged stock of such subsidiaries as security for obligations of the Company under such facilities. The agreement includes restrictions relating to, among other things, indebtedness for borrowed money, capital expenditures, advances to managed businesses, mergers, sale of assets, dividends, and liens on the property of the Company. The agreement also contains financial covenants, requiring the Company to maintain a minimum ratio of debt to net worth, minimum shareholders' equity, and a minimum ratio of cash flow prior to debt service. The Company is in compliance with all covenants. 4. INCOME PER SHARE OF COMMON STOCK Per share data is based upon the weighted average number of shares of common stock and common stock equivalents outstanding during each period; common stock equivalents consist of dilutive stock options. For the periods ended June 29, 1996 no effect has been given to outstanding options since the effect was not material. For the periods ended July 1, 1995 fully diluted net income per common share and common share equivalent is not shown since the effect is not material. 5 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS NET SALES Net sales at restaurants and bars owned by the Company increased 7.4% in the 13-week period ended June 29, 1996 from the comparable period ended July 1, 1995 and increased 8.8% in the 39-week period ended June 29, 1996 from the comparable period last year. The increase in net sales for the 13-week and 39-week periods was due primarily to sales from a restaurant which the Company did not operate in some of the comparable periods last year (BRYANT PARK GRILL & CAFE), offset in part by the decrease resulting from the sale of a restaurant (WHALE'S TAIL). Same store sales in the 13-week period ended June 29, 1996 increased by 3.2% as compared to the same period last year and same store sales in the 39-week period decreased by 4.2% as compared to the same period last year, in each case principally due to customer counts. COSTS AND EXPENSES The Company's cost of sales consists only of food and beverage costs at restaurants and bars owned by the Company. For the 13-week period ended June 29, 1996 cost of sales as a percentage of net sales decreased to 26.2% from 27.0% for the comparable period last year and for the 39-week period ended June 29, 1996 cost of sales as a percentage of net sales decreased to 27.1% as compared to 27.6% last year. Operating expenses of the Company, consisting of restaurant payroll, occupancy and other expenses at restaurants and bars owned by the Company, as a percentage of net sales, decreased to 60.6% for the 13-week period ended June 29, 1996 from 64.2% for the comparable period last year. For the 39-week period ended June 29, 1996 such percentage increased to 69.0% from 67.6% last year. The decrease in operating expenses as a percentage of net sales in the 13-week period ended June 29, 1996 was principally due to payroll expenses which decreased to 32.1% of net sales as compared to 35.7% last year. This decrease in payroll for the 13-week period ended June 29, 1996 was principally due to the Company's ability to efficiently manage its 3.2% same store sales increase and the 13-week period also benefited from a large volume restaurant which the Company opened in the 13-week period last year (BRYANT PARK GRILL & CAFE). For the 39-week period ended June 29 1996 payroll expenses decreased to 36.2% as compared to 36.7% last year. General and administrative expenses, as a percentage of net sales, were 5.0% for the 13-week period ended June 29, 1996 as compared to 4.7% in the comparable period last year and was 5.9% for the 39-week period ended June 29, 1996 as compared to 6.1% last year. If net sales at managed restaurants and bars were included in consolidated net sales, general and administrative expenses as a percentage of net sales would been 4.3% for the 13-week period ended June 29, 1996 as compared to 4.1% last year and would have been 5.1% for the 39-week period ended June 29, 1996 as compared to 5.3% last year. The Company had net income of $1,138,000 for the 13-week period ended June 29, 1996 as compared to net income of $636,000 last year. Net income for the 39-week period ended June 29, 1996 was $134,000 as compared to $445,000 last year. Net income for the 13-week period ended June 29, 1996 includes a charge of approximately $96,000 from the partial write-off of a long term receivable at a restaurant site subleased to a third party. 6 During the 13-week periods ended June 29, 1996 the Company managed six restaurants and two corporate dining facilities owned by third parties. Net sales of the managed locations were $3,973,000 during the 13-week period ended June 29, 1996 as compared to $3,020,000 last year and net sales were $8,916,000 during the 39-week period ended June 29, 1996 as compared to $7,584,000 last year. These increases were principally due to the addition of two management agreements. Net sales of these operations are not included in consolidated net sales. INCOME TAXES The provision for income taxes reflects Federal income taxes calculated on a consolidated basis and state and local income taxes calculated by each subsidiary on a non consolidated basis. Most of the restaurants owned or managed by the Company are owned or managed by a separate subsidiary. For state and local income tax purposes, the losses incurred by a subsidiary may only be used to offset that subsidiary's income, with the exception of the restaurants which operate in the District of Columbia. Accordingly, the Company's overall effective income tax rate has varied depending on the level of the losses incurred at individual subsidiaries. As a result of the enactment of the Revenue Reconciliation Act of 1993, the Company is entitled, commencing January 1, 1994, to a tax credit based on the amount of tip income of restaurant service personnel. The Company estimates that this credit will be in excess of $300,000 for the current year. LIQUIDITY AND SOURCES OF CAPITAL The Company's primary source of capital is cash provided by operations and funds available from the $12,000,000 revolving credit agreement with its main bank. The Company utilizes capital primarily to fund the cost of developing and opening new restaurants and acquiring existing restaurants. At June 29, 1996, the Company had a working capital deficit of $201,000 as compared to working capital of $40,000 at September 30, 1995. The Company is able to operate with a working capital deficit because the restaurant business does not require the maintenance of significant receivables or inventories. In March 1996, the Company and its main bank agreed to an extension and increase of the existing Revolving Credit and Term Loan Facility. The agreement includes a $5,000,000 facility for working capital purposes at the Company's existing restaurants and a $7,000,000 facility for use in construction of and as working capital for restaurant facilities to be operated by the Company in a new resort/casino under construction in Las Vegas, Nevada (See Restaurant Expansion below). The two facilities each have two year terms at the end of which they will convert into two year term loans. The $5,000,000 facility will convert into a two year self-amortizing term loan. The $7,000,000 facility will convert into a two year loan amortizing $6,000,000 over the two year period with the balance of $1,000,000 paid at maturity. At June 29, 1996 the Company had borrowings of $2,800,000 under this agreement. The Company also has a four year $2,000,000 letter of credit facility for use in lieu of lease security deposits and a on year (extendible for an additional six months) $2,000,000 letter of credit of facility to be used to assure construction of the Las Vegas restaurants. 7 The amount of indebtedness that may be incurred by the Company is limited by the revolving credit agreement with its main bank. Certain provisions of the agreement may impair the Company's ability to borrow funds. The Company believes that its cash flow from operations and available borrowings under its credit facility will be adequate to meet its currently anticipated obligations (including the anticipated costs associated with the construction of the Las Vegas facilities). If either the costs associated with the construction of the Las Vegas facilities should substantially exceed the current estimates or if cash provided by operations is substantially lower than anticipated, the Company may have to obtain additional external financing. RESTAURANT EXPANSION The Company has an agreement with New York, New York Hotel & Casino, a joint venture between Primadonna Resorts, Inc. and MGM Grand, Inc. to design, build and operate a group of restaurants in the 2,100 room Las Vegas resort casino which is scheduled to open in December 1996. The Company will build a 450-seat restaurant (AMERICA), a 150-seat steakhouse (GALLAGHER'S) and a group of small fast food restaurants in a food court with a New York theme. The steakhouse will be operated under a license agreement from the owner of the New York restaurant of that name. In addition, the Company will operate the hotel's room service, its banquet facilities and its employee cafeteria. The Company expects that its commitments for these facilities will be between $14,000,000 and $15,000,000 which the Company intends to finance principally through the credit agreement and, to a lesser extent, through cash from operations. In the third quarter of fiscal 1996, the Company purchased two restaurants (JIM MCMULLEN and MACKINAC BAR & GRILL). The Company agreed to pay $550,000 payable over four years through April 2000 with interest at 8.5% per annum for one restaurant (JIM MCMULLEN) The Company had previously leased the furniture, fixtures and leasehold improvements of such restaurant for $900,000 under a three year term which ended in March 1996. The Company purchased the other restaurant, which it had previously managed (MACKINAC BAR & GRILL), by paying cash of $108,000, by assuming net liabilities of $88,000 and by canceling advances of $880,000 previously classified as long-term receivables. Although the Company is not currently committed to any other projects, the Company is exploring additional opportunities for expansion of its business. The Company expects to fund its existing projects through cash from operations and existing credit facilities. Additional expansion may require additional external financing. OTHER INFORMATION Both Houses of Congress recently passed legislation increasing the Federal hourly minimum wage, which legislation is expected to soon become law. Based on the versions of such law passed by the Congress, the Company does not expect such increase to have a material impact on the Company. 8 PART II - OTHER INFORMATION ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K (a) Exhibits - none (b) Reports on Form 8-K - none 9 SIGNATURES Pursuant to the requirements 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. Date: July 29, 1996 ARK RESTAURANTS CORP. By /S/ Michael Weinstein ---------------------- Michael Weinstein, President By /S/ Andrew B. Kuruc ------------------- Andrew B. Kuruc Vice President, Controller and Principal Accounting Officer EX-27 2 FINANCIAL DATA SCHEDULE
5 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE SHEET AND INCOME STATEMENT FOR 39 WEEKS OF ARK RESTAURANTS CORP. AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. 1,000 9-MOS SEP-28-1996 OCT-1-1995 JUN-29-1996 1,163 0 1,675 0 887 5,379 29,154 11,944 28,568 5,580 4,988 46 0 0 16,978 28,568 56,774 56,774 15,396 15,396 42,518 0 331 268 134 134 0 0 0 134 .04 .04
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