| Q1 2004 |
Fiscal Quarter Ended |
| |
January 24, 2004 |
January 25, 2003 |
| Statements of Operations: |
|
|
| Revenues |
$122,483 |
$117,834 |
| Costs of services |
101,837 |
97,463 |
| Gross profit |
20,646 |
20,371 |
| Gross margin |
16.9% |
17.3% |
| Franchise agents' share of gross profit |
3,802 |
3,412 |
| Selling and administrative expenses |
16,091 |
15,888 |
| Depreciation and amortization |
1,103 |
1,281 |
| |
|
|
| Operating loss from continuing operations |
(350) |
(210) |
| Interest expense |
473 |
465 |
| Interest income |
(20) |
(52) |
| Loss from continuing operations before income taxes |
(803) |
(623) |
| Provision for income taxes |
103 |
41 |
| Loss from continuing operations before cumulative effect
of |
|
|
| change in accounting principle |
(906) |
(664) |
| Income from discontinued operations |
|
316 |
| Cumulative effect of change in accounting principle |
|
(670) |
| |
|
|
| Net loss |
$(906) |
$(1,018) |
| |
|
|
| Basic and diluted earnings (loss) per share: |
|
|
| Continuing operations before cumulative
effect of change in accouning principle |
$(0.06) |
$(0.04) |
| Discontinued operations |
$- |
$0.02 |
| Cumulative effect of change in accounting principle |
$- |
$(0.04) |
| Net loss |
$(0.06) |
$(0.06) |
| |
|
|
| Weighted average common shares outstanding - basic
and diluted |
16,015 |
15,972 |
| |
|
|
| Balance Sheet Highlights: |
January 24, 2004 |
November 1, 2003 |
| Current assets |
$73,349 |
$84,433 |
| Property and equipment, net |
11,851 |
12,569 |
| Goodwill, net |
11,807 |
11,687 |
| Other long-term assets |
8,275 |
4,458 |
| Total assets |
$105,282 |
$113,147 |
| |
|
|
| Current liabilities |
$55,529 |
$63,196 |
| Long term liabilities |
14,328 |
14,495 |
| Total liabilities |
69,857 |
77,691 |
| Stockholders' equity |
35,425 |
35,456 |
| Total liabilities and stockholders' equity |
$105,282 |
$113,147 |
|
|
