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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 26, 2011
REVENUE:    
Royalties $ 8,288,500 $ 7,052,800
Leasing income 2,392,100 3,235,000
Merchandise sales 709,800 501,400
Franchise fees 285,000 75,000
Other 158,000 240,700
Total revenue 11,833,400 11,104,900
COST OF MERCHANDISE SOLD 664,300 482,900
LEASING EXPENSE 239,800 518,700
PROVISION FOR CREDIT LOSSES (53,000) 45,400
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 5,136,100 4,845,900
Income from operations 5,846,200 5,212,000
LOSS FROM EQUITY INVESTMENTS (37,400) (77,000)
INTEREST EXPENSE (69,800) (31,100)
INTEREST AND OTHER INCOME 46,300 17,200
Income before income taxes 5,785,300 5,121,100
PROVISION FOR INCOME TAXES (2,269,300) (2,094,800)
NET INCOME $ 3,516,000 $ 3,026,300
EARNINGS PER SHARE - BASIC (in dollars per share) $ 0.70 $ 0.61
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 0.67 $ 0.58
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 5,052,952 4,989,588
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 5,280,202 5,215,484