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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 6 Months Ended
Jun. 28, 2014
Jun. 29, 2013
Jun. 28, 2014
Jun. 29, 2013
REVENUE:        
Royalties $ 9,200,800 $ 8,608,200 $ 18,010,800 $ 17,083,100
Leasing income 3,157,600 4,130,200 7,533,200 7,538,000
Merchandise sales 685,800 557,400 1,473,800 1,223,100
Franchise fees 607,500 389,600 956,500 804,200
Other 387,200 338,100 617,200 523,500
Total revenue 14,038,900 14,023,500 28,591,500 27,171,900
COST OF MERCHANDISE SOLD 659,300 524,400 1,414,000 1,165,500
LEASING EXPENSE 119,100 610,500 425,700 890,200
PROVISION FOR CREDIT LOSSES (11,100) (51,700) 27,800 (37,900)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 6,179,000 5,879,100 12,196,900 11,417,000
Income from operations 7,092,600 7,061,200 14,527,100 13,737,100
INTEREST EXPENSE (144,100) (55,100) (206,200) (144,600)
INTEREST AND OTHER INCOME (EXPENSE) 900 (100) 1,000 (10,300)
Income before income taxes 6,949,400 7,006,000 14,321,900 13,582,200
PROVISION FOR INCOME TAXES (2,668,600) (2,669,100) (5,489,200) (5,187,800)
NET INCOME $ 4,280,800 $ 4,336,900 $ 8,832,700 $ 8,394,400
EARNINGS PER SHARE - BASIC (in dollars per share) $ 0.84 $ 0.86 $ 1.72 $ 1.68
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 0.82 $ 0.83 $ 1.67 $ 1.61
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 5,109,049 5,024,284 5,128,789 5,010,803
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 5,243,123 5,200,592 5,275,539 5,201,644