| Q2 2003 |
Fiscal Quarter Ended:
|
| |
April
19, 2003 |
April
20, 2002 |
| Statements of Operations: |
|
|
| |
|
|
| Revenues |
$116,442 |
109,676 |
| Costs of
services |
96,632 |
89,049 |
| Gross
profit |
19,810 |
20,627 |
| Gross Margin
|
17.0% |
18.8% |
| Franchise
agents' share of gross profit |
3,562 |
3,339 |
| Selling
and administrative expenses |
17,226 |
16,851 |
| Depreciation
and amortization |
1,310 |
1,577 |
| Operating
loss from continuing operations |
(2,288) |
(1,140) |
| Interest
expense |
356 |
669 |
| Interest
income |
(49) |
(104) |
| Loss from
continuing operations before income taxes |
(2,595) |
(1,705) |
| Provision
(benefit) for income taxes |
68 |
(3,101) |
| Net Income
(loss) |
(2,663) |
1,396 |
| Basic and
diluted earnings (loss) per share: |
(0.17) |
0.09 |
| Weighted
average common shares outstanding - basic |
15,994 |
15,945 |
| Weighted average common
shares outstanding - diluted |
15,994 |
15,971 |
| |
|
|
| |
24 Weeks
Ended |
| Statement of Operations: |
April 19, 2003 |
April 20, 2002 |
| |
|
|
| Revenues |
234,275 |
216,669 |
| Costs of services |
194,095 |
176,039 |
| Gross profit |
40,180 |
40,630 |
| Gross margin |
17.2% |
18.8% |
| Franchise agents' share
of gross profit |
6,973 |
6,468 |
| Selling and administrative
expenses |
33,114 |
34,612 |
| Restructuring charges |
|
1,896 |
| Depreciation and amortization |
2,591 |
3,094 |
| Operating loss from
continuing operations |
(2,498) |
(5,440) |
| Interest expense |
822
|
1,136
|
| Interest income |
(101)
|
(216)
|
| Loss from continuing
operations before income taxes
and cumulative effect of change in accounting principle |
(3,219)
|
(6,360)
|
| Provision (benefit)
for income taxes |
109
|
(3,103)
|
| Loss from continuing
operations before cumulative effect of
change in accounting principle |
(3,328)
|
(3,257)
|
| Income from discontinued
operations |
316
|
|
| Cumulative effect of
change in accounting principle |
(670)
|
|
| Net loss |
$(3,682) |
$(3,257) |
| Basic and diluted earnings
(loss) per share: |
|
|
| Continuing operations before cumulative effect of change in accounting principle |
$(0.21)
|
$(0.20)
|
| Discontinued operations |
$0.02
|
$-
|
| Cumulative effect of change in accounting principle |
$(0.04)
|
$-
|
| Net loss |
$(0.23)
|
$(0.20)
|
| Weighted average common shares outstanding - basic and diluted |
15,983
|
15,929
|
| |
|
|
| Balance Sheet Highlights: |
April 19, 2003 |
November 2, 2002 |
| |
|
|
| Current
assets |
$72,552 |
$91,445 |
| Property
and equipment, net |
14,365 |
15,778 |
| Goodwill,
net |
11,488 |
12,034 |
| Other long-term
assets |
2,413 |
2,698 |
| Total
assets |
$100,818 |
$121,955 |
| Current
liabilities |
$34,200 |
$57,373 |
| Long term
liabilities |
30,773 |
25,632 |
| Total
liabilities |
64,973 |
83,005 |
| Stockholders'
equity |
35,845 |
38,950 |
| Total
liabilities and stockholders' equity |
$100,818 |
$121,955 |
|
|
