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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
Quarterly Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Quarter Ended December 28, 2003 Commission file Number 0-1830
BOWL AMERICA INCORPORATED
(Exact name of registrant as specified in its charter.)
MARYLAND 54-0646173
(State of Incorporation) (I.R.S. Employer Identification No.)
6446 Edsall Road, Alexandria, Virginia 22312
(Address of principal executive offices) (Zip Code)
(703)941-6300
Registrant's telephone number, including area code
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 such 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 by check mark whether the registrant is an accelerated
filer (as defined in Exchange Act Rule 12 b-2)
YES [ ] NO [X]
Indicate the number of shares outstanding of each of the issuer's
classes of common stock, as of the latest practical date:
Shares Outstanding at
January 25, 2004
Class A Common Stock, 3,670,112
$.10 par value
Class B Common Stock 1,468,462
$.10 par value
PART 1. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
BOWL AMERICA INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
Thirteen Weeks Ended Twenty-six Weeks Ended
December 28, December 29, December 28, December 29,
2003 2002 2003 2002
_______________________ __________________________
Operating Revenues
Bowling and other $5,163,791 $5,262,668 $ 9,489,060 $ 9,541,652
Food, beverage and
merchandise sales 2,143,726 2,264,213 3,963,632 4,111,231
_________ _________ __________ __________
7,307,517 7,526,881 13,452,692 13,652,883
Operating Expenses
Compensation and benefits 3,159,693 3,227,739 6,341,283 6,376,064
Cost of bowling and other 1,571,781 1,453,939 3,092,215 2,949,418
Cost of food, beverage and
merchandise sales 706,323 761,304 1,340,358 1,374,654
Depreciation and
amortization 391,647 403,570 786,577 844,722
General and administrative 166,074 201,241 347,218 372,829
_________ _________ __________ __________
5,995,518 6,047,793 11,907,651 11,917,687
Net gain on sale of building - - 2,168,117 -
Operating Income 1,311,999 1,479,088 3,713,158 1,735,196
Interest and dividend
income 103,361 122,842 199,342 238,278
_________ _________ __________ __________
Earnings before provision
for income taxes 1,415,360 1,601,930 3,912,500 1,973,474
Provision for income taxes 503,500 578,273 1,426,700 712,400
_________ _________ __________ __________
Net Earnings $ 911,860 $1,023,657 $ 2,485,800 $ 1,261,074
========= ========= ========= =========
Earnings per share-basic &
diluted $.17 $.20 $.48 $.25
Weighted average shares
outstanding 5,138,574 5,149,834 5,138,574 5,149,915
Dividends paid $642,322 $617,999 $1,284,645 $1,235,999
Per share, Class A $.125 $.12 $.25 $.24
Per share, Class B $.125 $.12 $.25 $.24
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS
Net Earnings $ 911,860 $1,023,657 $ 2,485,800 $1,261,074
Other comprehensive
earnings-net of tax
Unrealized gain (loss) on
available for sale
securities 199,282 662,608 (33,511) (68,642)
_________ _________ _________ _________
Comprehensive earnings $1,111,142 $1,686,265 $ 2,452,289 $1,192,432
========= ========= ========= =========
The operating results for the thirteen (13) and twenty-six (26) week
periods ended December 28, 2003 are not necessarily indicative of results
to be expected for the year.
See notes to condensed consolidated financial statements.
BOWL AMERICA INCORPORATED AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
AS OF
-----------------------------------
December 28, 2003 June 29, 2003
________________ _____________
ASSETS
Current Assets
Cash and cash equivalents $ 2,294,273 $ 1,503,313
Short-term investments 9,837,618 9,505,678
Inventories 627,490 565,071
Prepaid expenses and other 2,473,061 590,555
Income taxes refundable - 443,788
__________ __________
Total Current Assets 15,232,442 12,608,405
Property, Plant and Equipment
Net of accumulated depreciation of
$27,979,914 and $27,208,055 20,286,438 20,287,508
Assets Held for Sale (Note 4) - 117,948
Other Assets
Marketable equity securities 3,915,619 3,932,550
Cash surrender value-life insurance 471,058 463,579
Other long-term assets 67,767 126,517
__________ __________
TOTAL ASSETS $39,973,324 $37,536,507
========== ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable $ 641,829 $ 700,425
Dividends payable 693,707 642,323
Accrued expenses 662,375 910,087
Other current liabilities 1,788,949 354,854
Income taxes payable 161,069 -
Current deferred income taxes 103,266 103,300
__________ __________
Total Current Liabilities 4,051,195 2,710,989
Long-term Deferred Compensation 133,468 133,468
Noncurrent Deferred Income Taxes 1,719,500 1,738,900
---------- ----------
TOTAL LIABILITIES 5,904,163 4,583,357
__________ __________
COMMITMENTS AND CONTINGENCIES (Note 3)
Stockholders' Equity
Preferred stock,
par value $10 a share: Authorized
and unissued 2,000,000 shares
Common stock,
par value $.10 per share
Authorized 10,000,000 shares
Class A issued and outstanding -
3,670,112 shares 367,012 367,012
Class B issued and outstanding -
1,468,462 shares 146,846 146,846
Additional paid-in capital 7,480,008 7,480,257
Unrealized gain on securities
available-for-sale, 1,939,002 1,972,513
Retained earnings 24,136,293 22,986,522
__________ __________
TOTAL STOCKHOLDERS' EQUITY $34,069,161 $32,953,150
__________ __________
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $39,973,324 $37,536,507
========== ==========
See notes to condensed consolidated financial statements.
BOWL AMERICA INCORPORATED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
FOR THE TWENTY-SIX WEEKS ENDED DECEMBER 28, 2003 AND DECEMBER 29, 2002
December 28, December 29,
2003 2002
Cash Flows From Operating Activities:
Net earnings $2,485,800 $1,261,074
Adjustments to reconcile net
earnings to net cash provided
by operating activities
Depreciation and amortization 786,577 844,722
Changes in assets and liabilities
Increase in inventories (62,419) (121,580)
(Increase) decrease in prepaid
expenses & other (1,764,558) 178,759
Decrease in income taxes refundable 443,788 522,625
Increase in income taxes payable 161,069 -
Decrease in other long-term assets 51,271 30,395
Decrease in accounts payable (58,596) (154,869)
Decrease in accrued expenses (247,770) (92,974)
Increase in other current liabilities 1,434,095 1,243,156
_________ _________
Net cash provided by operating activities $3,229,257 $3,711,308
_________ _________
Cash flows from investing activities
Expenditures for property,plant,equip (785,507) (986,338)
Net purchases of short-term investments (368,145) (962,003)
_________ _________
Net cash used in investing activities (1,153,652) (1,948,341)
_________ _________
Cash flows from financing activities
Payment of cash dividends (1,284,645) (1,235,999)
Purchase of Class A Common Stock - (4,197)
_________ _________
Net cash used in financing activities (1,284,645) (1,240,196)
_________ _________
Net Increase in Cash and Equivalents 790,960 522,771
Cash and Equivalents, Beginning of Period 1,503,313 1,633,817
_________ _________
Cash and Equivalents, End of Period $2,294,273 $2,156,588
========= =========
Supplemental Disclosures of Cash Flow Information
Cash paid during the period for
Income taxes $ 821,900 $ 189,775
See notes to condensed consolidated financial statements.
BOWL AMERICA INCORPORATED AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the Twenty-six Weeks Ended
December 28, 2003
(Unaudited)
1. Basis for Presentation
The accompanying unaudited condensed consolidated financial statements of
Bowl America Incorporated and subsidiaries (the "Company"), have been prepared
pursuant to the rules and regulations of the Securities and Exchange
Commission. The condensed consolidated balance sheet as of June 29, 2003
has been derived from the Company's June 29, 2003 audited financial statements.
Certain information and note disclosures normally included in the annual
financial statements, prepared in accordance with accounting principles
generally accepted in the United States of America, have been condensed
or omitted pursuant to those rules and regulations, although the Company
believes that the disclosures made are adequate to make the information
presented not misleading.
In the opinion of management, the accompanying unaudited condensed consolidated
financial statements reflect all adjustments and reclassifications (all of
which are of a normal, recurring nature) that are necessary for the fair
presentation for the periods presented. It is suggested that these
condensed consolidated financial statements be read in conjunction with the
consolidated financial statements and notes thereto included in the
Company's latest annual report to the Securities and Exchange Commission
on Form 10-K for the year ended June 29, 2003.
2. Marketable Equity Securities
Marketable equity securities are carried at fair value in accordance
with the provisions of SFAS No. 115. At December 28, 2003, the fair value of
these securities was $3,915,619, with an original cost of $859,191, resulting
in an unrealized gain of $3,056,428. The telecommunications stocks included
in the portfolio as of December 28, 2003 were:
16,835 shares of AT&T Wireless
2,209 shares of Agere
3,946 shares of Alltel
669 shares of Avaya
27,572 shares of Bell South
8,028 shares of Lucent Technologies
9,969 shares of Qwest Communications
45,580 shares of SBC
32,000 shares of SprintFon
16,000 shares of SprintPCS
18,784 shares of Verizon
13,560 shares of Vodafone/AirTouch
3. Commitments and Contingencies
In November 2003, the Company signed an agreement with contingencies for the
purchase of property for $1,917,750. According to the agreement, settlement
must be completed by February 20, 2004, however, to date, all contingencies
have not yet been met.
4. Assets Held for Sale
On August 25, 2003, the Company consummated the final closing on the sale of
the Silver Spring building and assignment of the ground lease and recorded the
net pre-tax gain of $2,168,117 on the sale.
5. Reclassifications
Certain previous amounts have been reclassified to conform with current period
presentation.
BOWL AMERICA INCORPORATED
Item 2 - Management's Discussion and Analysis of Financial
Condition and Results of Operations
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
December 28, 2003
Liquidity and Capital Resources
Short-term investments, consisting mainly of U.S. Treasury Bills
and Notes, and cash totaled $12,132,000 at the end of the second
quarter of fiscal 2004 or $922,000 higher than at the beginning
of the quarter and $1,123,000 higher than at the beginning of the
fiscal year. The increased funds result from operations and reflect
the seasonal nature of the bowling business which is strongest from
September through May.
Funds of approximately $2,200,000, from the sale of the Silver Spring building
and assignment of ground lease in August 2003, remain in escrow in anticipation
of a property purchase, and are not included in the amounts above. The escrow
amount is included in the Prepaid and other category on the Condensed Consoli-
dated Balance Sheets. The Company has signed a contract with contingencies,
not yet met, for the purchase of property that could qualify as a like-kind
exchange in order to defer taxes on the approximately $2,168,117 gain from the
sale.
In the six-month period ended December 28, 2003, the Company expended
approximately $786,000 replacing outdated assets and for the purchase of
bowling and restaurant equipment and amusement games as part of a continuing
program to modernize centers. The Company is actively seeking property in our
existing market areas for the development of additional bowling centers. Cash
and cash flow are sufficient to finance all contemplated purchases and
construction. The Company's holdings of marketable equity securities,
primarily consisting of telecommunications stocks, are another
potential source of expansion capital.
These marketable securities are carried at their fair value on the last day of
the quarter. For the three-month period ended December 28, 2003, the
market value increased by $355,000 to approximately $3,916,000.
Current liabilities increase during the first three quarters of the fiscal
year as leagues deposit prize fund monies with the Company throughout the
league season. These funds are returned to the leagues at the end of the
bowling season, generally in the fourth quarter. At December 28, 2003,
approximately $1,500,000 in league deposits are included in the current
liabilities category.
While no factors requiring a change in the dividend rate are apparent,
the Board of Directors decides the amount and timing of any dividend
at its quarterly meeting based on its appraisal of the state of the
business and its estimate of future opportunities.
On December 2, 2003, the Board of Directors declared a cash dividend of
$.135 per share on its Class A and Class B Common Stock, payable on
February 11, 2004, to holders of record as of January 9, 2004.
Results of Operations
In the fourth quarter of fiscal 2003, the Company ceased operations at its
Silver Spring center. The sale of the center that was operating with a
negative cash flow was consummated in August 2003. In fiscal year 2002, two
centers were closed at the expiration of their leases. One center, operating
at break-even, was closed at the end of the first quarter of fiscal 2002, and
a profitable center was closed in May 2002 after the Company was unable to
negotiate a new lease. The changes in the number of centers in operation
affected all income, expense and comparisons for the periods presented in
this report.
Net earnings were $.17 per share for the thirteen-week period ended
December 28, 2003, versus net earnings of $.20 per share for the thirteen-
week period ended December 29, 2002. For the current twenty-six week period
net earnings per share were $.48 compared to $.25 for the comparable period
a year ago. The sale of Silver Spring, after taxes, contributed $.25 per
share to the current year-to-date earnings.
Operating revenues decreased 3% for the three-month period ended December 28,
2003 versus a decrease of 4% in the comparable period a year ago. For the
current six-month period operating revenues were down 2% versus a 5% decrease
in the prior year six-month period. Operating revenues from bowling and other
declined approximatley 2% in the quarter and less than 1% for the six-month
period ended December 28, 2003, compared to a drop of 5% in the prior year
comparable quarter and six-month periods. As mentioned above, the operation
of fewer locations is the primary factor in the decreases. Despite fewer
locations in operation, linage for the current six-month period is up slightly
over the prior fiscal year comparable period, in part a result of promotional
pricing during normally slow times.
Food, beverage and merchandise sales were down 5% in the current year quarter
and down 4% in the six-month period partially as a result of a change in the
diner area of Bowl America Gaithersburg so that is more closely linked to
bowling operations. The Company believes that the revised marketing plan will
enhance the profitability of the bowling center. Cost of food, beverage and
merchandise sales declined due to the lower sales.
Operating expenses excluding depreciation and amortization were flat in the
current three and six month periods versus a decrease of 2% in both the
three and six month periods of the prior year. Employee compensation and
benefits were down 2% in the current quarter and flat for the six-month
period although health insurance expense continued to rise.
Maintenance and repair costs were up 13% in the six-month period ended
December 28, 2003 versus a decrease of 9% in the comparable period last
year. Building and heating repairs were primarily responsible for the
current year increase. Both year-to-date periods included similar snow
removal costs. Advertising costs during the current twenty-six week period
increased 17% compared to a 6% decrease in the prior year comparable period.
In the current year period the Company ran a print advertising campaign
announcing our new website. Utility costs for the quarter and six-month
periods ended December 28, 2003 were down 2%, and down 4% and 8% in the
prior year comparable periods. Bowling supplies and services costs were
down 6% for the six-month period compared to an 2% increase in the
prior year period.
Depreciation and amortization expense decreased 7% in the year-to-date
period and 5% in the comparable prior year period. The primary reason for
the decreases is the reduced number of centers in operation. Rent expense
was flat in the current year six-month period and down 16% in the prior year
comparable period due to the closing of leased centers mentioned above.
Insurance expense, excluding health and life, increased 2% through the six-
month period ended December 28, 2003 as compared to 42% in the six-month
period a year ago that included premium increases following September 11, 2001.
CRITICAL ACCOUNTING POLICIES
We have identified accounting for marketable investment securities under SFAS
115 ("Accounting for Certain Investments in Debt and Equity Securities") as a
critical accounting policy due to the significance of the amounts included in
our balance sheet under the caption of Short-term investments and Marketable
equity securities. The Company exercises judgment in determining the
classification of its investment securities as available-for-sale and in
determining their fair value. The Company records these investments at their
fair value with the unrealized gain or loss recorded in accumulated other
comprehensive income, a component of stockholders' equity, net of deferred
taxes. Additionally, from time to time the Company must assess whether
write-downs are necessary for the temporary declines in value.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
Interest Rate Risk. Our short-term investments and certain cash equivalents
are subject to interest rate risk. We manage this risk by maintaining an
investment portfolio of available-for-sale instruments with high credit
quality and relatively short average maturities. The fair value of marketable
debt securities held was $9,575,000 and $9,146,000 at December 28, 2003 and
December 29, 2002, respectively. The fair value of certain fixed rate debt
securities will change depending on movements in interest rates. Declines in
interest rates will affect our interest income. Based on our portfolio of
debt securities at December 28, 2003, a 10% decline in the average yield
would have no material impact on annual interest income.
ITEM 4. CONTROLS AND PROCEDURES
The Company's Chief Executive Officer and Chief Financial Officer have
concluded that the Company's disclosure controls and procedures are effective
based on their evaluation of such controls and procedures as of December 28,
2003. There was no change in the Company's internal control over financial
reporting identified in connection with the evaluation that occurred during
the quarter ended December 28, 2003, that materially affected, or is
reasonably likely to materially affect, the Company's internal control over
financial reporting.
BOWL AMERICA INCORPORATED AND SUBSIDIARIES
S.E.C. FORM 10-Q
December 28, 2003
PART II - OTHER INFORMATION
Item 4 - Submission of Matters to a Vote of Security Holders
At the annual meeting on December 2, 2003 the Class A shareholders
approved the appointment of Director Warren T. Braham for a one year period
to expire at the 2004 Annual Meeting. The votes were cast as follows:
For 3,324,910 Withheld 47,344
At the annual meeting on December 2, 2003, the Class A shareholders
approved the appointment of Director Allan L. Sher for a one year period
to expire at the 2004 Annual Meeting. The votes were cast as follows:
For 3,328,221 Withheld 44,033
At the annual meeting on December 2, 2003, the Class B shareholders
approved the appointment of Merle Fabian, Leslie H. Goldberg, Stanley H.
Katzman, A. Joseph Levy, Ruth Macklin and Irvin Clark, as listed in the
proxy statement for the December 2, 2003 meeting, for a one year period
to expire at the 2004 Annual Meeting. The votes were cast as follows:
For 14,551,220 Withheld 0
Item 6 - Exhibits and Reports on Form 8-K
(a) Exhibits
10 Employment Contract, dated December 31, 2003, with Irvin Clark
31.1 Certification of Chief Executive Officer
31.2 Certification of Chief Financial Officer
32 Written Statement of the Chief Executive Officer and Chief Financial
Officer Pursuant to 18 U.S.C. 1350
(b) Reports on Form 8-K None
Pursuant to the requirement 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.
BOWL AMERICA INCORPORATED
Registrant
February 10, 2004 Leslie H. Goldberg
Date President
February 10, 2004 Cheryl A. Dragoo
Date Controller
EXHIBIT 10 EMPLOYMENT CONTRACT
THIS AGREEMENT is dated as of the 31st day of December, 2003, by
and between BOWL AMERICA INCORPORATED, hereinafter called "Corporation", and
Irvin Clark, hereinafter called "Clark",
WITNESSETH:
WHEREAS the parties desire to enter into an Employment Contract to
go into effect on January 1, 2004;
NOW, THEREFORE, in consideration of the premises and the mutual
agreements hereinafter contained, the parties hereby agree as follows:
1. Corporation hereby employs Clark, and Clark hereby agrees to work
for Corporation for the year commencing January 1, 2004, and
expiring on December 31, 2004.
2. Clark shall serve as General Manager of the Corporation,
performing the functions and duties normally performed by a
General Manager.
3. Clark shall devote his full time and attention to the affairs of
the Corporation.
4. Clark shall be entitled by way of remuneration for his services
the sum of $160,000 per year to be paid in bi-weekly installments.
5. This Agreement is purely personal with Irvin Clark and in the event
of his death or total disability during the contract period, this
agreement shall terminate and the obligations of the Corporation to
make any payments shall cease.
BOWL AMERICA INCORPORATED
By: Leslie H. Goldberg, President
ATTEST: Michael T. Dick
Assistant Secretary Irvin Clark
EXHIBIT 31.1
Exhibit 31.1 to Form 10-Q
Certification of Chief Executive Officer
Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a) Or
15d-14(a) under the Securities Exchange Act of 1934
I, Leslie H. Goldberg, certify that:
1. I have reviewed this Quarterly report on Form 10-Q of Bowl America
Incorporated;
2. Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period
covered by this report;
3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined
in Exchanges Act Rules 13a-14 and 15d-14) for the registrant and have:
a) Designed such disclosure controls and procedures, or caused such controls
and procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated subsid-
iaries is made known to us by others within those entities, particularly
during the period in which this report is being prepared;
b) Evaluated the effectivness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and
c) Disclosed in this report any change in the registrant's internal control
over financial reporting that occurred during the registrant's most recent
fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial reporting;
and
5. The registrant's other certifying officer and I have disclosed, based on
our most recent evaluation of the internal contol over financial reporting,
to the registrant's auditors and the audit committee of the registrant's board
of directors (or persons performing the equivalent functions):
a) All significant deficiencies and material weaknesses in the design or
operation of internal controls over financial reporting which are reasonably
likely to adversely affect the registrant's ability to record, process,
summarize and report financial information; and
b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal control
over financial reporting.
Date: February 10, 2004 Leslie H. Goldberg
Chief Executive Officer
EXHIBIT 31.2
Exhibit 31.2 to Form 10-Q
Certification of Chief Financial Officer
Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a) Or
15d-14(a) under the Securities Exchange Act of 1934
I, Cheryl A. Dragoo, certify that:
1. I have reviewed this Quarterly report on Form 10-Q of Bowl America
Incorporated;
2. Based on my knowledge, this quarterly report does not contain any
untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under
which such statements were made, not misleading with respect to the period
covered by this report;
3. Based on my knowledge, the financial statements, and other financial
information included in this report, fairly present in all material
respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this report;
4. The registrant's other certifying officer and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined
in Exchanges Act Rules 13a-14 and 15d-14) for the registrant and have:
a) Designed such disclosure controls and procedures, or caused such controls
and procedures to be designed under our supervision, to ensure that material
information relating to the registrant, including its consolidated subsid-
iaries is made known to us by others within those entities, particularly
during the period in which this report is being prepared;
b) Evaluated the effectivness of the registrant's disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and
c) Disclosed in this report any change in the registrant's internal control
over financial reporting that occurred during the registrant's most recent
fiscal quarter that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial reporting;
and
5. The registrant's other certifying officer and I have disclosed, based on
our most recent evaluation of the internal contol over financial reporting,
to the registrant's auditors and the audit committee of the registrant's board
of directors (or persons performing the equivalent functions):
a) All significant deficiencies and material weaknesses in the design or
operation of internal controls over financial reporting which are reasonably
likely to adversely affect the registrant's ability to record, process,
summarize and report financial information; and
b) Any fraud, whether or not material, that involves management or other
employees who have a significant role in the registrant's internal control
over financial reporting.
Date: February 10, 2004 Cheryl A. Dragoo
Chief Financial Officer
EXHIBIT 32
Written Statement of the Chief Executive Officer and Chief Financial Officer
Pursuant to 18 U.S.C. 1350
Solely for the purposes of complying with 18 U.S.C. 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, we, the
undersigned Chief Executive Officer and Chief Financial Officer of Bowl
America Incorporated (the "Company"), hereby certify, based on our knowledge,
that the Quarterly Report on Form 10-Q of the Company for the period ended
December 28, 2003 (the "Report") fully complies with the requirements of
Section 13(a) of the Securities Act of 1934 and that information contained in
the Report fairly presents, in all material respects, the financial condition
and results of operations of the Company.
Leslie H. Goldberg
Chief Executive Officer
Cheryl A. Dragoo
Chief Financial Officer
Date: February 10, 2004