Attached files
| file | filename |
|---|---|
| EX-31.2 - EXHIBIT 31.2 - BOWL AMERICA INC | ex31-2.htm |
| 10-K - ANNUAL REPORT - BOWL AMERICA INC | bowlam_10k-070311.htm |
| EX-32 - EXHIBIT 32 - BOWL AMERICA INC | ex32.htm |
| EX-31.1 - EXHIBIT 31.1 - BOWL AMERICA INC | ex31-1.htm |
EXHIBIT 20
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For Immediate Release
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September 28, 2011
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BOWL AMERICA REPORTS FISCAL YEAR EARNINGS
Bowl America Incorporated today reported earnings per share for its fiscal fourth quarter ended July 3, 2011, which included a 14th week, were $.03, down from $.04 in the comparable quarter last year. Earnings per share for the 53-week fiscal year declined to $.30 from $.36 in the prior year.
Management believes that continuing concern about the economy on the part of our customers and potential customers has influenced their spending of discretionary funds.
Fiscal 2011 was the Company’s 39th year of increased regular per share dividends. The Company’s Board of Directors yesterday declared a regular quarterly dividend of $.16 to be paid in November 2011.
A more detailed explanation of results is available in the Company’s S.E.C. Form 10-K filing available through the website www.bowlamericainc.com. Bowl America operates 19 bowling centers and its stock trades on the NYSE Amex with the symbol BWLA.
* * * *
BOWL AMERICA INCORPORATED
Results of Operations
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Fourteen
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Thirteen
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Fifty-three
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Fifty-two
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|||||||||||||
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Weeks Ended
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Weeks Ended
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Weeks Ended
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Weeks Ended
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|||||||||||||
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07/03/11
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06/27/10
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07/03/11
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06/27/10
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Operating Revenues
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||||||||||||||||
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Bowling and other
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$ | 4,288,002 | $ | 4,099,537 | $ | 18,721,460 | $ | 19,109,668 | ||||||||
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Food, beverage and merchandise sales
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1,811,088 | 1,726,477 | 7,782,203 | 7,974,228 | ||||||||||||
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Net gain on sale of assets
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14,187 | 43,177 | 14,187 | 43,177 | ||||||||||||
| 6,113,277 | 5,869,191 | 26,517,850 | 27,127,073 | |||||||||||||
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Operating expenses excluding depreciation and amortization
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5,760,928 | 5,349,321 | 23,176,276 | 23,106,792 | ||||||||||||
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Depreciation and amortization
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244,642 | 320,394 | 1,549,166 | 1,687,150 | ||||||||||||
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Interest and dividend income
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132,407 | 118,153 | 579,960 | 529,845 | ||||||||||||
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Earnings before taxes
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240,114 | 317,629 | 2,372,368 | 2,862,976 | ||||||||||||
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Net Earnings
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$ | 192,275 | $ | 196,265 | $ | 1,556,929 | $ | 1,850,712 | ||||||||
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Comprehensive Earnings
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$ | 389,710 | $ | 173,597 | $ | 2,111,011 | $ | 1,936,087 | ||||||||
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Weighted average shares outstanding
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5,147,522 | 5,141,301 | 5,147,117 | 5,141,102 | ||||||||||||
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EARNINGS PER SHARE
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.03 | .04 | .30 | .36 | ||||||||||||
* * * *
SUMMARY OF FINANCIAL POSITION
Dollars in Thousands
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07/03/11
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06/27/10
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|||||||
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ASSETS
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Total current assets including cash and short-term investment of $8,660 and $9,716
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$
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10,118
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$
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11,311
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||||
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Property and investments
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30,800
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30,099
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TOTAL ASSETS
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$
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40,918
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$
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41,410
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||||
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LIABILITIES AND STOCKHOLDERS' EQUITY
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||||||||
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Total current liabilities
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$
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3,071
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$
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2,890
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||||
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Other liabilities
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2,546
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2,116
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||||||
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Stockholders' equity
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35,301
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36,404
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||||||
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
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$
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40,918
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$
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41,410
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