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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 9 Months Ended
Sep. 29, 2012
Sep. 24, 2011
Sep. 29, 2012
Sep. 24, 2011
REVENUE:        
Royalties $ 9,178,400 $ 8,046,400 $ 25,160,800 $ 21,918,500
Leasing income 4,312,700 2,369,300 9,989,800 12,584,500
Merchandise sales 716,600 664,300 2,083,200 1,998,700
Franchise fees 411,000 516,200 966,000 836,200
Other 180,400 177,300 625,100 765,300
Total revenue 14,799,100 11,773,500 38,824,900 38,103,200
COST OF MERCHANDISE SOLD 684,400 631,400 1,982,200 1,908,500
LEASING EXPENSE 770,700 290,400 1,336,200 4,149,300
PROVISION FOR CREDIT LOSSES (1,700) (13,100) (69,600) 8,200
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 4,882,200 4,219,100 15,239,900 14,095,400
Income from operations 8,463,500 6,645,700 20,336,200 17,941,800
LOSS FROM EQUITY INVESTMENTS (372,300) (224,700) (650,400) (444,600)
IMPAIRMENT OF INVESTMENT IN NOTES (660,700) (293,200) (660,700) (546,100)
INTEREST EXPENSE (110,200) (26,200) (302,300) (84,200)
INTEREST AND OTHER INCOME (EXPENSE) 14,300 (9,000) 50,600 22,100
Income before income taxes 7,334,600 6,092,600 18,773,400 16,889,000
PROVISION FOR INCOME TAXES (3,075,100) (2,609,100) (7,593,500) (6,979,000)
NET INCOME $ 4,259,500 $ 3,483,500 $ 11,179,900 $ 9,910,000
EARNINGS PER SHARE - BASIC (in dollars per share) $ 0.85 $ 0.70 $ 2.22 $ 1.99
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 0.82 $ 0.66 $ 2.13 $ 1.89
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 5,013,822 4,970,046 5,041,023 4,980,160
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 5,222,719 5,263,343 5,257,057 5,239,424