Q4 2002 |
| |
Fiscal Quarter Ended |
| |
November 2, 2002 |
November 3, 2001 |
| Statements of Operations: |
|
Sales of services |
$179,352 |
$183,656 |
|
License fees |
129 |
263 |
|
Total sales of services and license fees |
179,481 |
183,919 |
|
Costs of services |
146,829 |
147,386 |
|
Gross profit |
32,652 |
36,533 |
|
Gross margin |
18.2% |
19.9% |
|
Franchise agents' share of gross profit |
5,509 |
5,917 |
|
Selling and administrative expenses |
23,493 |
27,870 |
|
Arbitration award |
|
3,600 |
|
EBITDA |
3,650 |
(854) |
|
Depreciation and amortization |
2,026 |
2,170 |
|
Impairment of intangible assets |
116 |
19,121 |
|
Operating income (loss) |
1,508 |
(22,145) |
|
Interest expense |
682 |
662 |
|
Interest income |
(92) |
(226) |
|
Income (loss) before income taxes |
918 |
(22,581) |
|
(Benefit) provision for income taxes |
(1,441) |
10,803 |
|
Income (loss) from continuing operations |
2,359 |
(33,384) |
|
Income from discontinued operations, net of income
taxes |
|
|
|
Loss on disposal of discontinued operations, net
of income taxes |
|
|
|
Net income (loss) |
$2,359 |
$(33,384) |
|
Basic and diluted earnings per share: |
|
|
|
Continuing operations |
$0.15 |
$(2.10) |
|
Discontinued operations |
$- |
$- |
|
Basic and diluted earnings (loss) per share: |
$0.15 |
$(2.10) |
|
Weighted average common shares outstanding - basic |
15,968 |
15,905 |
|
Weighted average common shares outstanding - diluted |
16,081 |
15,905 |
|
|
|
|
|
|
|
|
|
Fiscal Year Ended |
|
|
November 2, 2002 |
November 3, 2001 |
Statements of Operations: |
|
Sales of services |
$514,876 |
$571,289 |
|
License fees |
377 |
1,303 |
|
Total sales of services and license fees |
515,253 |
572,592 |
|
Costs of services |
419,932 |
457,249 |
|
Gross profit |
95,321 |
115,343 |
|
Gross margin |
18.5% |
20.1% |
|
Franchise agents' share of gross profit |
15,409 |
17,112 |
|
Selling and administrative expenses |
75,537 |
86,544 |
|
Arbitration award |
(693) |
3,600 |
|
Restructuring charges |
1,896 |
|
|
EBITDA |
3,172 |
8,087 |
|
Depreciation and amortization |
6,601 |
7,645 |
|
Impairment of intangible assets |
116 |
19,121 |
|
Operating loss from continuing operations |
(3,545) |
(18,679) |
|
Interest expense |
2,343 |
2,529 |
|
Interest income |
(387) |
(765) |
|
Loss from continuing operations before income taxes |
(5,501) |
(20,443) |
|
(Benefit) provision for income taxes |
(4,070) |
11,658 |
|
Loss from continuing operations |
(1,431) |
(32,101) |
|
Income from discontinued operations, net of income
taxes |
|
- |
|
Loss on disposal of discontinued operations, net
of income taxes |
|
(1,794) |
|
Net loss |
$(1,431) |
$(33,895) |
|
Basic and diluted loss per share: |
|
|
|
Continuing operations |
$(0.09) |
$(2.02) |
|
Discontinued operations |
$- |
$(0.11) |
|
Net loss |
$(0.09) |
$(2.14) |
|
Weighted average common shares outstanding - basic
and diluted |
15,945 |
15,869 |
|
|
|
|
Balance Sheet Highlights: |
|
November 2, 2002 |
November 3, 2001 |
|
Current assets |
$91,445 |
$88,058 |
|
Property, plant & equipment, net |
15,778 |
20,259 |
|
Intangible assets |
12,252 |
13,181 |
|
Other assets |
2,480 |
1,677 |
|
Total assets |
$121,955 |
$123,175 |
|
Current liabilities |
$57,373 |
$71,496 |
|
Long term liabilities |
25,632 |
12,187 |
|
Total liabilities |
83,005 |
83,683 |
|
Stockholders' equity |
38,950 |
39,492 |
|
Total liabilities and stockholders' equity |
$121,955 |
$123,175 |
|
