Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - BOWL AMERICA INC | Financial_Report.xls |
| EX-32 - EXHIBIT 32 - BOWL AMERICA INC | ex32.htm |
| EX-31 - EXHIBIT 31.1 - BOWL AMERICA INC | ex31-1.htm |
| EX-31 - EXHIBIT 31.2 - BOWL AMERICA INC | ex31-2.htm |
| 10-K - FORM 10-K - BOWL AMERICA INC | bwl-a20140629_10k.htm |
EXHIBIT 20
|
For Immediate Release |
September 25, 2014 |
BOWL AMERICA REPORTS FISCAL YEAR EARNINGS
Bowl America Incorporated today reported earnings per share for its fiscal fourth quarter were $.01 and for the fiscal year were $.27. The prior year fourth quarter included the sale of the Company’s Winter Park, Florida location. Without the sale, the quarter would have shown a loss of $.02 per share. Fiscal year 2013 earnings were $.61 per share, with $.32 contributed by the discontinued operation and sale at Winter Park.
A more detailed explanation of results is available in the Company’s Form 10-K filing available through the website www.bowlamericainc.com. Bowl America operates 18 bowling centers and its stock trades on the NYSE MKT with the symbol BWLA.
* * * *
BOWL AMERICA INCORPORATED
Results of Operations
|
Thirteen |
Thirteen |
Fifty-two |
Fifty-two |
|||||||||||||
|
Weeks Ended |
Weeks Ended |
Weeks Ended |
Weeks Ended |
|||||||||||||
|
06/29/14 |
06/30/13 |
06/29/14 |
06/30/13 |
|||||||||||||
|
Operating Revenues |
||||||||||||||||
|
Bowling and other |
$ | 3,314,871 | $ | 3,517,868 | $ | 16,094,493 | $ | 16,914,493 | ||||||||
|
Food, beverage and merchandise sales |
1,440,973 | 1,460,261 | 6,685,524 | 6,942,788 | ||||||||||||
| 4,755,844 | 4,978,129 | 22,780,017 | 23,857,281 | |||||||||||||
|
Operating expenses excluding depreciation and amortization |
4,791,628 | 5,015,751 | 20,258,255 | 20,674,250 | ||||||||||||
|
Depreciation and amortization |
272,690 | 280,532 | 1,323,276 | 1,421,616 | ||||||||||||
|
Gain on sale of assets |
8,820 | 980 | 8,820 | 980 | ||||||||||||
|
Interest, dividend and other income |
101,397 | 86,827 | 662,693 | 435,141 | ||||||||||||
|
Earnings (loss) from continuing operations before taxes |
(198,257 |
) |
(230,347 |
) |
1,869,999 | 2,197,536 | ||||||||||
|
Earnings (loss) earnings from continuing operations |
$ | 28,812 | $ | (91,604 |
) |
$ | 1,373,168 | $ | 1,485,773 | |||||||
|
Earnings (loss) from discontinued operations-net of tax |
(937 |
) |
1,703,881 | (2,774 |
) |
1,669,449 | ||||||||||
|
Net Earnings |
27,875 | 1,612,277 | 1,370,394 | 3,155,222 | ||||||||||||
|
Comprehensive Earnings |
$ | 88,851 | $ | 1,513,677 |
|
$ | 1,377,972 | $ | 3,200,424 | |||||||
|
Weighted average shares outstanding |
5,160,971 | 5,142,724 | 5,160,971 | 5,151,784 | ||||||||||||
|
Earnings per share from continuing operations |
.01 | (.02 |
) |
.27 | .29 | |||||||||||
|
Earnings per share from discontinued operations |
.00 | .33 | .00 | .32 | ||||||||||||
|
EARNINGS PER SHARE |
.01 | .31 | .27 | .61 | ||||||||||||
* * * *
SUMMARY OF FINANCIAL POSITION
Dollars in Thousands
|
06/29/14 |
06/30/13 |
|||||||
|
ASSETS |
||||||||
|
Total current assets including cash and short-term investment of $2,295 and $4,388 |
$ | 3,739 | $ | 5,535 | ||||
|
Property and investments |
30,625 | 31,190 | ||||||
|
TOTAL ASSETS |
$ | 34,364 | $ | 36,725 | ||||
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
||||||||
|
Total current liabilities |
$ | 2,983 | $ | 3,054 | ||||
|
Other liabilities |
2,402 | 2,639 | ||||||
|
Stockholders' equity |
28,979 | 31,032 | ||||||
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ | 34,364 | $ | 36,725 | ||||