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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 25, 2016
Jun. 27, 2015
Jun. 25, 2016
Jun. 27, 2015
REVENUE:        
Royalties $ 10,557,300 $ 10,214,400 $ 20,829,800 $ 19,940,600
Leasing income 4,152,300 3,663,300 8,665,000 13,672,900
Merchandise sales 625,300 686,300 1,362,400 1,420,000
Franchise fees 493,500 475,900 866,000 770,300
Other 471,400 436,800 756,900 697,000
Total revenue 16,299,800 15,476,700 32,480,100 36,500,800
COST OF MERCHANDISE SOLD 588,300 645,800 1,285,700 1,344,000
LEASING EXPENSE 460,100 510,500 1,364,200 4,767,900
PROVISION FOR CREDIT LOSSES (7,900) (93,100) (22,300) (162,200)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 5,936,200 6,329,300 12,490,800 12,492,800
Income from operations 9,323,100 8,084,200 17,361,700 18,058,300
INTEREST EXPENSE (593,800) (369,500) (1,234,500) (455,200)
INTEREST AND OTHER INCOME (EXPENSE) 9,500 9,700 (1,000) (49,400)
Income before income taxes 8,738,800 7,724,400 16,126,200 17,553,700
PROVISION FOR INCOME TAXES (3,344,500) (2,973,000) (6,169,000) (6,748,000)
NET INCOME $ 5,394,300 $ 4,751,400 $ 9,957,200 $ 10,805,700
EARNINGS PER SHARE - BASIC (in dollars per share) $ 1.31 $ 1.04 $ 2.42 $ 2.26
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 1.25 $ 1.00 $ 2.31 $ 2.18
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 4,110,429 4,578,934 4,112,254 4,789,205
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 4,318,763 4,768,777 4,316,346 4,968,122