| Q3 2003 |
Fiscal Quarter Ended
|
| |
July 12, 2003
|
July 13, 2002
|
| Statements of Operations: |
|
|
| |
|
|
| Revenues |
$117,149 |
$119,104 |
| Costs of services |
96,479 |
97,064 |
| Gross profit |
20,670 |
22,040 |
| Gross margin |
17.6% |
18.5% |
| Franchise agents' share of gross profit |
3,699 |
3,432 |
| Selling and administrative expenses |
16,043 |
16,740 |
| Depreciation and amortization |
1,317 |
1,481 |
| Operating income (loss) from continuing
operations |
(389) |
387 |
| Interest expense |
374 |
525 |
| Interest income |
(39) |
(79) |
| Loss from continuing operations before
income taxes |
(724) |
(59) |
| Provision for income taxes |
123 |
475 |
| Income (loss) from continuing operations |
(847) |
(534) |
| Income from discontinued operations |
|
- |
| Net loss |
$(847) |
$(534) |
| |
$(0.05) |
$(0.03) |
| |
$- |
$- |
| Basic and diluted loss per share: |
$(0.05) |
$(0.03) |
| Weighted average common shares outstanding
- basic and diluted |
15,995 |
15,947 |
| Weighted average common shares outstanding
- diluted |
15,994 |
15,971 |
| |
|
|
| |
36 Weeks Ended
|
| |
July 12, 2003
|
July 13, 2002
|
| Statements of Operations: |
|
|
| |
|
|
| Revenues |
351,424 |
335,772 |
| Costs of services |
290,573 |
273,103 |
| Gross profit |
60,851 |
62,669 |
| Gross margin |
17.3% |
18.7% |
| Franchise agents' share of gross profit |
10,673 |
9,900 |
| Selling and administrative expenses |
49,157 |
51,352 |
| Restructuring charges |
|
1,896 |
| Depreciation and amortization |
3,907 |
4,575 |
| Impairment of intangible assets |
|
|
| Operating loss from continuing operations |
(2,886) |
(5,054) |
| Interest expense |
1,196 |
1,661 |
| Interest income |
(140) |
(295) |
| Loss from continuing operations before
income taxes |
|
|
| and cumulative effect of change in accounting
principle |
(3,942) |
(6,420) |
| Provision (benefit) for income taxes |
232 |
(2,629) |
| Loss from continuing operations before
cumulative effect of |
|
|
| change in accounting principle |
(4,174) |
(3,791) |
| Income from discontinued operations |
316 |
|
| Cumulative effect of change in accounting
principle |
(670) |
|
| Net loss |
$(4,528) |
$(3,791) |
| Basic and diluted earnings (loss) per share: |
|
|
| Continuing operations before cumulative
effect of change |
|
|
| in accounting principle |
$(0.26) |
$(0.24) |
| Discontinued operations |
$0.02 |
$- |
| Cumulative effect of change in accounting
principle |
$(0.04) |
$- |
| Net loss |
$(0.28) |
$(0.24) |
| Weighted average common shares outstanding
- basic and diluted |
15,987 |
15,935 |
| |
|
|
| Balance Sheet Highlights: |
|
|
| |
|
|
| |
July 12, 2003 |
November 2, 2002 |
| |
|
|
| Current assets |
$74,285 |
$91,445 |
| Property and equipment, net |
13,887 |
15,778 |
| Goodwill, net |
11,586 |
12,034 |
| Other long-term assets |
2,569 |
2,698 |
| Total assets |
$102,327 |
$121,955 |
| Current liabilities |
$40,881 |
$57,373 |
| Long term liabilities |
25,974 |
25,632 |
| Total liabilities |
66,855 |
83,005 |
| Stockholders' equity |
35,472 |
38,950 |
| Total liabilities and stockholders' equity |
$102,327 |
$121,955 |
| |
|
|
|
|
