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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 25, 2011
Jun. 30, 2012
Jun. 25, 2011
REVENUE:        
Royalties $ 7,693,900 $ 6,819,300 $ 15,982,400 $ 13,872,100
Leasing income 3,285,000 6,980,200 5,677,100 10,215,200
Merchandise sales 656,800 833,000 1,366,600 1,334,400
Franchise fees 270,000 245,000 555,000 320,000
Other 286,700 347,300 444,700 588,000
Total revenue 12,192,400 15,224,800 24,025,800 26,329,700
COST OF MERCHANDISE SOLD 633,500 794,200 1,297,800 1,277,100
LEASING EXPENSE 325,700 3,340,200 565,500 3,858,900
PROVISION FOR CREDIT LOSSES (14,900) (24,100) (67,900) 21,300
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 5,221,600 5,030,400 10,357,700 9,876,300
Income from operations 6,026,500 6,084,100 11,872,700 11,296,100
LOSS FROM EQUITY INVESTMENTS (240,700) (142,900) (278,100) (219,900)
IMPAIRMENT OF INVESTMENT IN NOTES   (252,900)   (252,900)
INTEREST EXPENSE (122,300) (26,900) (192,100) (58,000)
INTEREST AND OTHER INCOME (10,000) 13,900 36,300 31,100
Income before income taxes 5,653,500 5,675,300 11,438,800 10,796,400
PROVISION FOR INCOME TAXES (2,249,100) (2,275,100) (4,518,400) (4,369,900)
NET INCOME $ 3,404,400 $ 3,400,200 $ 6,920,400 $ 6,426,500
EARNINGS PER SHARE - BASIC (in dollars per share) $ 0.67 $ 0.68 $ 1.37 $ 1.29
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 0.65 $ 0.65 $ 1.31 $ 1.23
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 5,056,289 4,980,844 5,054,620 4,985,220
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 5,268,245 5,239,443 5,274,223 5,227,468