Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - BOWL AMERICA INC | ex_99668.htm |
| EX-31.2 - EXHIBIT 31.2 - BOWL AMERICA INC | ex_99667.htm |
| EX-31.1 - EXHIBIT 31.1 - BOWL AMERICA INC | ex_99666.htm |
| 10-Q - FORM 10-Q - BOWL AMERICA INC | bwl-a20171001_10q.htm |
Exhibit 20 Press release issued November 14, 2017
|
For Immediate Release |
November 14, 2017 |
BOWL AMERICA FIRST QUARTER REVENUES UP
Bowl America Incorporated today reported its fiscal 2018 first quarter earnings improved to $.04 per share from break-even in last year’s first quarter. This seasonally slow period was helped by a 4% increase in revenues, primarily from open play games, and decreases in operating expenses. Hurricane Irma caused the closure of the Company’s Florida locations for two days but the properties sustained no damage.
The Company will pay a regular quarterly dividend of $.17 per share on November 15, 2017 to stockholders of record as of October 17, 2017.
Bowl America operates 18 bowling centers and its Class A Common Stock trades on the NYSE American 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)
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Thirteen weeks ended |
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October 1, |
October 2, |
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2017 |
2016 |
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Revenues |
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Bowling and other |
$ | 3,748,270 | $ | 3,577,379 | ||||
|
Food & mdse sales |
1,515,483 | 1,486,957 | ||||||
| 5,263,753 | 5,064,336 | |||||||
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Operating expenses excluding depreciation and amortization |
4,831,294 | 4,863,754 | ||||||
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Depreciation and amortization |
236,084 | 292,694 | ||||||
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Interest, dividend & other income |
104,017 | 93,714 | ||||||
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Interest expense |
- | 2,722 | ||||||
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Earnings (loss) before tax (benefit) |
300,392 | (1,120 | ) | |||||
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Net Earnings (loss) |
$ | 195,192 | $ | (720 | ) | |||
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Comprehensive earnings (loss) |
$ | 338,857 | $ | (184,719 | ) | |||
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Weighted average shares outstanding |
5,160,971 | 5,160,971 | ||||||
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Earnings (loss) per share |
.04 | (.00 | ) | |||||
SUMMARY OF FINANCIAL POSITION
(unaudited)
Dollars in Thousands
|
10/01/17 |
10/02/16 |
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ASSETS |
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Total current assets including cash and short-term investments of $2,786 & $1,057 |
$ | 3,836 | $ | 2,262 | ||||
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Property and investments |
25,360 | 28,683 | ||||||
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TOTAL ASSETS |
$ | 29,196 | $ | 30,945 | ||||
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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Total current liabilities |
$ | 3,004 | $ | 3,558 | ||||
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Other liabilities |
2,144 | 2,297 | ||||||
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Stockholders' equity |
24,048 | 25,090 | ||||||
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ | 29,196 | $ | 30,945 | ||||
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