Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - BOWL AMERICA INC | ex_223903.htm |
| EX-31 - EXHIBIT 31 - BOWL AMERICA INC | ex_223902.htm |
| EX-10.1 - EXHIBIT 10.1 - BOWL AMERICA INC | ex_224982.htm |
| 10-Q - FORM 10-Q - BOWL AMERICA INC | bwl-a20210103_10q.htm |
EXHIBIT 20
|
For Immediate Release |
February 9, 2021 |
BOWL AMERICA REPORTS SECOND QUARTER LOSS
Bowl America Incorporated today reported a loss per share of $.06 for its fiscal 2021 second quarter ended December 27, 2020 and a loss per share of $.20 for the first half of fiscal 2021. The continuing COVID-19 pandemic and government required restrictions in allowed operating capacity continue to negatively impact the business. In addition, promotional pricing has reduced the per-game rate on open play games.
League bowling has remained strong with many leagues utilizing a split season schedule hoping to add members in the second half of their seasons should COVID-19 restrictions be eased.
Bowl America operates 17 bowling centers and its Class A Common Stock trades on the NYSE American exchange under 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 website www.bowlamericainc.com.
BOWL AMERICA INCORPORATED
Results of Operations
|
Thirteen |
Thirteen |
Twenty-six |
Twenty-six |
|||||||||||||
|
Weeks Ended |
Weeks Ended |
Weeks Ended |
Weeks Ended |
|||||||||||||
|
12/27/20 |
12/29/19 |
12/27/20 |
12/29/19 |
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|
Operating Revenues |
||||||||||||||||
|
Bowling and other |
$ | 1,823,182 | $ | 4,310,723 | $ | 2,990,054 | $ | 7,920,396 | ||||||||
|
Food, beverage and merchandise sales |
696,675 | 1,854,136 | 1,165,805 | 3,369,074 | ||||||||||||
| 2,519,857 | 6,164,859 | 4,155,859 | 11,289,470 | |||||||||||||
|
Operating expenses excluding depreciation and amortization |
2,938,279 | 5,035,856 | 5,506,204 | 10,085,374 | ||||||||||||
|
Depreciation and amortization |
247,808 | 235,574 | 495,616 | 470,752 | ||||||||||||
|
Interest, dividend and other income |
97,338 | 109,864 | 186,854 | 216,321 | ||||||||||||
|
Change in value of investments |
174,591 | 160,882 | 300,817 | 589,935 | ||||||||||||
|
PPP loan interest |
- | - | (4,690 |
) |
- | |||||||||||
|
(Loss) earnings before taxes |
(394,301 |
) |
1,164,175 | (1,362,980 |
) |
1,539,600 | ||||||||||
|
Net (Loss) earnings |
$ | (301,782 |
) |
$ | 877,675 | $ | (1,039,505 |
) |
$ | 1,163,000 | ||||||
|
Weighted average shares outstanding |
5,160,971 | 5,160,971 | 5,160,971 | 5,160,971 | ||||||||||||
|
(LOSS) EARNINGS PER SHARE |
(.06 |
) |
.17 | (.20 |
) |
.23 | ||||||||||
* * * *
SUMMARY OF FINANCIAL POSITION
Dollars in Thousands
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12/27/20 |
|
|
12/29/19 |
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ASSETS |
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Total current assets including cash and short-term investment of $981 and $1,942 |
|
$ |
7,958 |
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$ |
10,125 |
|
|
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Property and other assets |
|
|
19,327 |
|
|
|
20,311 |
|
|
TOTAL ASSETS |
|
$ |
27,285 |
|
|
$ |
30,436 |
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|
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LIABILITIES AND STOCKHOLDERS' EQUITY |
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Total current liabilities |
|
$ |
1,711 |
|
|
$ |
3,858 |
|
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Other liabilities |
|
|
4,096 |
|
|
|
3,301 |
|
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Stockholders' equity |
|
|
21,478 |
|
|
|
23,277 |
|
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
|
$ |
27,285 |
|
|
$ |
30,436 |
|