XML 15 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended
Mar. 26, 2016
Mar. 28, 2015
REVENUE:    
Royalties $ 10,272,500 $ 9,726,200
Leasing income 4,512,700 10,009,600
Merchandise sales 737,100 733,700
Franchise fees 372,500 294,400
Other 285,500 260,200
Total revenue 16,180,300 21,024,100
COST OF MERCHANDISE SOLD 697,400 698,200
LEASING EXPENSE 904,100 4,257,400
PROVISION FOR CREDIT LOSSES (14,400) (69,100)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 6,554,600 6,163,500
Income from operations 8,038,600 9,974,100
INTEREST EXPENSE (640,700) (85,700)
INTEREST AND OTHER INCOME (EXPENSE) (10,500) (59,100)
Income before income taxes 7,387,400 9,829,300
PROVISION FOR INCOME TAXES (2,824,500) (3,775,000)
NET INCOME $ 4,562,900 $ 6,054,300
EARNINGS PER SHARE - BASIC (in dollars per share) $ 1.11 $ 1.21
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 1.06 $ 1.17
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 4,114,071 4,999,475
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 4,313,920 5,167,466