| Q3 2004 |
Fiscal Quarter
Ended |
| |
July 10, 2004 |
July 12, 2003 |
| Statement of Operations |
|
|
| |
|
|
| Revenue |
$ 142,266 |
$ 117,149 |
| Costs of services |
117,639 |
96,479 |
| Gross profit |
24,627 |
20,670 |
| Gross margin |
17.3% |
17.6% |
| Franchise agents' share of gross profit |
4,313 |
3,699 |
| Selling and administrative expenses |
16,890 |
16,043 |
| Depreciation and amortization |
1,026 |
1,317 |
| |
|
|
| Operating income (loss) |
2,398 |
(389) |
| Interest expense |
510 |
374 |
| Interest income |
(24) |
(39) |
| Income (loss) from continuing operations before income
taxes |
1,912 |
(724) |
| Provision for income taxes |
307 |
123 |
| Income (loss) from continuing operations |
1,605 |
(847) |
| Income from discontinued operations |
150 |
|
| Net income (loss) |
$ 1,755 |
$ (847) |
| |
|
|
| Basic and diluted earnings (loss) per share: |
|
|
| Continuing operations |
$ 0.10 |
$ (0.05) |
| Discontinued operations |
$ 0.01 |
$ - |
| Net income (loss) |
0.11 |
(0.05) |
| |
|
|
| Weighted average common shares outstanding - basic |
16,033 |
15,995 |
| Weighted average common shares outstanding - diluted |
16,068 |
15,995 |
| |
|
|
| Statement of Operations |
36 Weeks Ended |
| |
July 10, 2004 |
July 12, 2003 |
| |
|
|
| |
|
|
| Revenue |
$ 395,922 |
$ 351,424 |
| Costs of services |
328,663 |
290,573 |
| Gross profit |
67,259 |
60,851 |
| Gross margin |
17.0% |
17.3% |
| Franchise agents' share of gross profit |
12,099 |
10,673 |
| Selling and administrative expenses |
49,211 |
49,157 |
| Depreciation and amortization |
3,199 |
3,907 |
| |
|
|
| Operating income (loss) |
2,750 |
(2,886) |
| Interest expense |
1,425 |
1,196 |
| Interest income |
(58) |
(140) |
| Income (loss) from continuing operations before income
taxes |
1,383 |
(3,942) |
| Provision for income taxes |
515 |
232 |
| Income (loss) from continuing operations before cumulative
effect of |
|
|
| change in accounting principle |
868 |
(4,174) |
| Income from discontinued operations |
150 |
316 |
| Cumulative effect of change in accounting principle |
|
(670) |
| |
|
|
| Net income (loss) |
$ 1,018 |
$ (4,528) |
| |
|
|
| Basic and diluted earnings (loss) per share: |
|
|
| Continuing operations before cumulative effect of |
|
|
| change in accouning principle |
$ 0.05 |
$ (0.26) |
| Discontinued operations |
$ 0.01 |
$ 0.02 |
| Cumulative effect of change in accounting principle |
$ - |
$ (0.04) |
| Net (income) loss |
$ 0.06 |
$ (0.28) |
| |
|
|
| Weighted average common shares outstanding - basic |
16,027 |
15,987 |
| Weighted average common shares outstanding - diluted |
16,033 |
15,987 |
| |
|
|
| Balance Sheet Highlights |
July 10, 2004 |
November 1, 2003 |
| |
|
|
| Current assets |
$ 85,416 |
$ 84,433 |
| Property and equipment, net |
9,464 |
12,569 |
| Goodwill, net |
11,716 |
11,687 |
| Other long-term assets |
12,439 |
4,458 |
| Total assets |
$ 119,035 |
$ 113,147 |
| Current liabilities |
$ 68,038 |
$ 63,196 |
| Long term liabilities |
13,868 |
14,495 |
| Total liabilities |
81,906 |
77,691 |
| Stockholders' equity |
37,129 |
35,456 |
| Total liabilities and stockholders' equity |
$ 119,035 |
$ 113,147 |
|
