Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - BOWL AMERICA INC | bwl-a20180930_10q.htm |
| EX-32 - EXHIBIT 32 - BOWL AMERICA INC | ex_127587.htm |
| EX-31.2 - EXHIBIT 31.2 - BOWL AMERICA INC | ex_127586.htm |
| EX-31.1 - EXHIBIT 31.1 - BOWL AMERICA INC | ex_127584.htm |
Exhibit 20 Press release issued November 13, 2018
| For Immediate Release | November 13, 2018 |
REVENUES AND EARNINGS UP IN BOWL AMERICA’S FIRST QUARTER
Bowl America Incorporated today reported its fiscal 2019 first quarter earnings improved to $.09 per share from $.04 in last year’s first quarter. Without the required FASB change reclassifying the unrealized gain or loss on securities from Stockholders’ Equity to current earnings the profit would have been $.05 per share as a result of higher revenues and the lower federal corporate tax rate.
The Company will pay an increased regular quarterly dividend of $.175 per share on November 14, 2018 to stockholders of record as of October 16, 2018.
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)
|
Thirteen weeks ended |
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|
September 30, |
October 1, |
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|
2018 |
2017 |
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|
Operating Revenues |
||||||||
|
Bowling and other |
$ | 3,833,291 | $ | 3,748,270 | ||||
|
Food & merchandise sales |
1,608,177 | 1,515,483 | ||||||
| 5,441,468 | 5,263,753 | |||||||
|
Operating expenses excluding depreciation and amortization |
4,969,586 | 4,831,294 | ||||||
|
Depreciation and amortization |
232,130 | 236,084 | ||||||
|
Interest, dividend & other income |
105,421 | 104,017 | ||||||
|
Change in value of investments |
238,278 | - | ||||||
|
Earnings before tax |
583,451 | 300,392 | ||||||
|
Net Earnings |
$ | 440,381 | $ | 195,192 | ||||
|
Comprehensive earnings |
$ | 440,381 | $ | 338,857 | ||||
|
Weighted average shares outstanding |
5,160,971 | 5,160,971 | ||||||
|
Earnings per share |
.09 | .04 | ||||||
SUMMARY OF FINANCIAL POSITION
(unaudited)
Dollars in Thousands
|
09/30/18 |
10/01/17 |
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|
ASSETS |
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Total current assets including cash and investments of $8,138 & $8,294 |
$ | 9,166 | $ | 9,344 | ||||
|
Property and other assets |
19,258 | 19,852 | ||||||
|
TOTAL ASSETS |
$ | 28,424 | $ | 29,196 | ||||
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
||||||||
|
Total current liabilities |
$ | 3,014 | $ | 3,004 | ||||
|
Other liabilities |
1,389 | 2,144 | ||||||
|
Stockholders' equity |
24,021 | 24,048 | ||||||
|
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ | 28,424 | $ | 29,196 | ||||
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