| |
Fiscal
Quarter Ended |
| |
July
13, 2002 |
July
7, 2001 |
% Change |
| Statements of Operations: |
|
|
|
|
|
|
|
Sales of
services |
$ 119,008
|
$ 123,915
|
-4.0% |
License
fees |
96 |
191 |
-49.7% |
| Total sales
of services and license fees |
119,104
|
124,106
|
-4.0% |
Costs of
services |
97,064
|
98,779
|
-1.7% |
Gross profit |
22,040
|
25,327
|
-13.0% |
| Gross margin |
18.5% |
20.4% |
|
Franchise
agents' share of gross profit |
3,432 |
3,975
|
-13.7% |
Selling
and administrative expenses |
16,740
|
19,028
|
-12.0% |
| EBITDA |
1,868 |
2,324
|
-19.6% |
Depreciation
and amortization |
1,481 |
1,778
|
-16.7% |
Operating
income |
387 |
546 |
-29.1% |
Interest
expense |
525 |
470 |
11.7% |
Interest
income |
(79) |
(230) |
-65.7% |
Income (loss)
before income taxes |
(59) |
306 |
-119.3% |
(Benefit)
provision for income taxes |
(2,463) |
122 |
-2118.9% |
Income (loss)
from continuing operations |
2,404 |
184 |
1206.5% |
Income from
discontinued operations, net of income taxes |
|
|
|
Loss on
disposal of discontinued operations, net of income taxes |
|
|
|
Net income
|
$ 2,404
|
$ 184
|
1206.5% |
Basic and
diluted earnings per share: |
|
|
|
| Continuing
operations |
$ 0.15
|
$ 0.01
|
|
| Discontinued
operations |
$ - |
$ - |
|
Basic and
diluted earnings per share: |
$ 0.15
|
$ 0.01
|
|
Weighted
average common shares outstanding - basic |
15,947
|
15,871
|
|
Weighted
average common shares outstanding - diluted |
16,043
|
16,043
|
|
System
Revenue: |
$ 120,676
|
$ 126,502
|
-4.6% |
|
|
|
|
|
|
|
|
|
36
Weeks Ended |
|
July
13, 2002 |
July
7, 2001 |
% Change |
Statements
of Operations: |
|
|
|
|
|
|
|
Sales of
services |
$ 335,524
|
$ 387,633
|
-13.4% |
License
fees |
248 |
1,040
|
-76.2% |
| Total sales
of services and license fees |
335,772
|
388,673
|
-13.6% |
Costs of
services |
273,103
|
309,863
|
-11.9% |
Gross profit |
62,669
|
78,810
|
-20.5% |
| Gross margin |
18.7% |
20.3% |
|
Franchise
agents' share of gross profit |
9,900 |
11,195
|
-11.6% |
Selling
and administrative expenses |
51,653
|
58,674
|
-12.0% |
Restructuring
charges |
1,896 |
|
|
| EBITDA |
(780) |
8,941
|
-108.7% |
Depreciation
and amortization |
4,575 |
5,475
|
-16.4% |
Operating
income (loss) from continuing operations |
(5,355) |
3,466
|
-254.5% |
Interest
expense |
1,360 |
1,867
|
-27.2% |
Interest
income |
(295) |
(539) |
-45.3% |
Income (loss)
from continuing operations before income taxes |
(6,420) |
2,138
|
-400.3% |
(Benefit)
provision for income taxes |
(2,434) |
855 |
-384.7% |
Income (loss)
from continuing operations |
(3,986) |
1,283
|
-410.7% |
Income from
discontinued operations, net of income taxes |
|
|
|
Loss on
disposal of discontinued operations, net of income taxes |
|
(1,794) |
|
Net loss |
$ (3,986) |
$ (511) |
-680.0% |
Basic and
diluted earnings (loss) per share: |
|
|
|
| Continuing
operations |
$ (0.25) |
$ 0.08
|
|
| Discontinued
operations |
$ - |
$ (0.11) |
|
| Net loss |
$ (0.25) |
$ (0.03) |
|
Weighted
average common shares outstanding - basic |
15,935
|
15,852
|
|
Weighted
average common shares outstanding - diluted |
15,935
|
15,895
|
|
System
Revenue: |
$ 339,503
|
$ 402,026
|
-15.6% |
|
|
|
|
|
|
|
|
Balance
Sheet Highlights: |
July
13, 2002 |
November
3, 2001 |
|
|
|
|
|
Current
assets |
$ 77,160
|
$ 88,058
|
|
Property,
plant & equipment, net |
17,189
|
20,259
|
|
Intangible
assets |
12,789
|
13,181
|
|
Other assets |
2,824 |
1,677
|
|
| Total assets |
$ 109,962
|
$ 123,175
|
|
Current
liabilities |
$ 54,601
|
$ 71,496
|
|
Long term
liabilities |
18,984
|
12,187
|
|
| Total liabilities |
73,585
|
83,683
|
|
Stockholders'
equity |
36,377
|
39,492
|
|
| Total liabilities
and stockholders' equity |
$ 109,962
|
$ 123,175
|
|
|
