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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 24, 2016
Sep. 30, 2017
Sep. 24, 2016
REVENUE:        
Royalties $ 12,316,700 $ 11,311,000 $ 33,865,100 $ 32,140,800
Leasing income 3,915,800 4,174,000 13,722,000 12,839,000
Merchandise sales 773,100 520,000 2,058,500 1,882,400
Franchise fees 317,800 501,800 1,262,500 1,367,800
Other 244,500 227,500 1,033,100 984,400
Total revenue 17,567,900 16,734,300 51,941,200 49,214,400
COST OF MERCHANDISE SOLD 728,300 499,100 1,942,400 1,784,800
LEASING EXPENSE 792,000 646,200 2,724,000 2,010,400
PROVISION FOR CREDIT LOSSES (13,300) (29,700) (26,200) (52,000)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 6,208,900 5,180,700 19,179,400 17,671,500
Income from operations 9,852,000 10,438,000 28,121,600 27,799,700
INTEREST EXPENSE (613,900) (552,300) (1,559,300) (1,786,800)
INTEREST AND OTHER INCOME (EXPENSE) 28,000 (6,300) 29,900 (7,300)
Income before income taxes 9,266,100 9,879,400 26,592,200 26,005,600
PROVISION FOR INCOME TAXES (3,547,100) (3,785,200) (9,683,600) (9,954,200)
NET INCOME $ 5,719,000 $ 6,094,200 $ 16,908,600 $ 16,051,400
EARNINGS PER SHARE - BASIC (in dollars per share) $ 1.42 $ 1.48 $ 4.09 $ 3.90
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 1.33 $ 1.41 $ 3.83 $ 3.72
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 4,024,692 4,116,957 4,131,269 4,113,819
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 4,314,412 4,328,168 4,416,185 4,320,284