Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - BOWL AMERICA INC | bwl-a20210328_10q.htm |
| EX-32 - EXHIBIT 32 - BOWL AMERICA INC | ex_246768.htm |
| EX-31 - EXHIBIT 31 - BOWL AMERICA INC | ex_246767.htm |
Exhibit 20 Press release issued May 11, 2021
|
For Immediate Release |
May 11, 2021 |
BOWL AMERICA REPORTS THIRD QUARTER EARNINGS
Bowl America Incorporated today reported earnings per share of $.08 for its fiscal 2021 third quarter and a loss of $.12 for the nine month period ended March 28, 2021. The third quarter is generally the busiest quarter of the year for the Company as weather is conducive to bowling. As a result of the continuing COVID-19 pandemic the majority of the Company’s bowling centers remained at a maximum capacity of 30% although some state and local jurisdictions have eased or eliminated restrictions or are expected to do so in the fourth quarter. The Company is optimistic that the ongoing vaccination efforts will result in fewer operating restrictions.
Bowl America owns 16 of the 17 bowling centers it operates and its Class A Common Stock trades on the NYSE American Exchange with the symbol BWLA. We invite you to view a more detailed explanation of results 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 |
Thirty-nine weeks ended |
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|
March 28, |
March 29, |
March 28, |
March 29, |
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|
2021 |
2020 |
2021 |
2020 |
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Revenues |
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|
Bowling and other |
$ | 2,555,725 | $ | 4,455,810 | $ | 5,545,779 | $ | 12,376,206 | ||||||||
|
Food, beverage & merchandise sales |
1,033,167 | 1,803,800 | 2,198,972 | 5,172,874 | ||||||||||||
| 3,588,892 | 6,259,610 | 7,744,751 | 17,549,080 | |||||||||||||
|
Operating expenses excluding depreciation and amortization |
3,019,051 | 4,920,654 | 8,525,255 | 15,006,028 | ||||||||||||
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Depreciation and amortization |
243,408 | 243,808 | 739,024 | 714,560 | ||||||||||||
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Interest, dividend and other income |
95,489 | 96,842 | 277,653 | 313,163 | ||||||||||||
|
Change in value of investments |
119,969 | (1,000,868 |
) |
420,786 | (410,933 |
) |
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|
Earnings (loss) before taxes |
541,891 | 191,122 | (821,089 |
) |
1,730,722 | |||||||||||
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Net Earnings (loss) |
$ | 410,386 | $ | 157,322 | $ | (629,119 |
) |
$ | 1,320,322 | |||||||
|
Weighted average shares outstanding |
5,160,971 | 5,160,971 | 5,160,971 | 5,160,971 | ||||||||||||
|
EARNINGS (LOSS) PER SHARE |
.08 | .03 | (.12 |
) |
.26 | |||||||||||
SUMMARY OF FINANCIAL POSITION
(unaudited)
Dollars in Thousands
|
03/28/21 |
03/29/20 |
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ASSETS |
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Total current assets including cash and short-term investments of $1,988 & $3,288 |
$ | 9,090 | $ | 9,842 | ||||
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Property and other assets |
19,120 | 20,044 | ||||||
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TOTAL ASSETS |
$ | 28,210 | $ | 29,886 | ||||
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LIABILITIES AND STOCKHOLDERS' EQUITY |
||||||||
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Total current liabilities |
$ | 2,135 | $ | 3,442 | ||||
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Other liabilities |
4,187 | 3,010 | ||||||
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Stockholders' equity |
21,888 | 23,434 | ||||||
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TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
$ | 28,210 | $ | 29,886 | ||||