Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - BOWL AMERICA INC | bwl-a20160928_10q.htm |
| EX-32 - EXHIBIT 32 - BOWL AMERICA INC | ex32.htm |
| EX-31.2 - EXHIBIT 31.2 - BOWL AMERICA INC | ex31-2.htm |
| EX-31.1 - EXHIBIT 31.1 - BOWL AMERICA INC | ex31-1.htm |
Exhibit 20 Press release issued November 15, 2016
|
For Immediate Release |
November 15, 2016 |
BOWL AMERICA FIRST QUARTER REVENUES UP
Bowl America Incorporated today reported its fiscal 2017 first or “summer” quarter earnings improved to break-even from a loss of $.03 per share in last year’s first quarter. The quarter, a seasonally slow period, was helped by a 3% increase in revenues and decreases in operating expenses.
The Company will pay a regular quarterly dividend of $.17 per share on November 16, 2016 to stockholders of record as of October 18, 2016.
Bowl America operates 18 bowling centers and its Class A Common Stock trades on the NYSE MKT Exchange with the symbol BWLA. A more detailed explanation of results is available in the Company’s S.E.C. Form 10-Q filing, available at the Company’s web site www.bowlamericainc.com.
* * * *
BOWL AMERICA INCORPORATED
Results of Operations
(unaudited)
|
Thirteen weeks ended |
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|
October 2, |
September 27, |
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|
2016 |
2015 |
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Revenues |
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|
Bowling and other |
$ | 3,577,379 | $ | 3,474,033 | ||||
|
Food & mdse sales |
1,486,957 | 1,446,130 | ||||||
| 5,064,336 | 4,920,163 | |||||||
|
Operating expenses excluding depreciation and amortization |
4,863,754 | 4,958,280 | ||||||
|
Depreciation and amortization |
292,694 | 336,187 | ||||||
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Interest, dividend & other income |
93,714 | 146,528 | ||||||
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Interest expense |
2,722 | - | ||||||
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Loss before tax benefit |
(1,120 | ) | (227,776 | ) | ||||
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Net loss |
$ | (720 | ) | $ | (148,076 | ) | ||
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Comprehensive loss |
$ | (184,719 | ) | $ | (456,879 | ) | ||
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Weighted average shares outstanding |
5,160,971 | 5,160,971 | ||||||
|
LOSS PER SHARE |
(.00 | ) | (.03 | ) | ||||
SUMMARY OF FINANCIAL POSITION
(unaudited)
Dollars in Thousands
| 10/02/16 | 09/27/15 | |||||||
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ASSETS |
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Total current assets including cash and short-term investments of $1,057 & $1,489 |
$ | 2,262 | $ | 2,451 | ||||
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Property and investments |
28,683 | 28,285 | ||||||
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TOTAL ASSETS |
$ | 30,945 | $ | 30,736 | ||||
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LIABILITIES AND STOCKHOLDERS' EQUITY |
||||||||
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Total current liabilities |
$ | 3,558 | $ | 3,086 | ||||
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Other liabilities |
2,297 | 2,010 | ||||||
|
Stockholders' equity |
25,090 | 25,640 | ||||||
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ | 30,945 | $ | 30,736 | ||||
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