10-Q

FORM  10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

FOR THE QUARTERLY PERIOD ENDED: DECEMBER 27, 2015

COMMISSION FILE NUMBER: 001-7829

BOWL AMERICA INCORPORATED

(Exact name of registrant as specified in its charter)

MARYLAND	54-0646173
(State of Incorporation)	(I.R.S.Employer Identification No)

6446 Edsall Road, Alexandria, Virginia  22312

(Address of principal executive offices)(Zip Code)

(703) 941-6300

(Registrant's telephone number including area code)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No __

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes X No __

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “accelerated filer,” “large accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer __ Accelerated Filer __ Non-Accelerated Filer __ Smaller Reporting Company X

Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act)

Yes __    No X

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date:

	Shares Outstanding at
	January 28, 2016
Class A Common Stock,
$.10 par value	3,746,454
Class B Common Stock,
$.10 par value	1,414,517

PART 1. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

BOWL AMERICA INCORPORATED AND SUBSIDIARIES

  CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS

  (Unaudited)

	Thirteen Weeks Ended				Twenty-six Weeks Ended
	December 27,		December 28,		December 27,		December 28,
	2015		2014		2015		2014
Operating Revenues:
Bowling and other	$	4,166,052	$	4,203,410	$	7,640,085	$	7,504,753
Food, beverage and merchandise sales		1,839,977		1,766,628		3,286,107		3,094,629
Total Operating Revenues		6,006,029		5,970,038		10,926,192		10,599,382
Operating Expenses:
Employee compensation and benefits		2,736,556		2,742,256		5,483,101		5,495,483
Cost of bowling and other services		1,447,483		1,478,048		2,958,095		3,006,754
Cost of food, beverage and merchandise sales		563,038		553,436		1,032,380		988,626
Depreciation and amortization		338,595		330,813		674,782		656,205
General and administrative		231,588		235,073		463,369		452,426
Total Operating Expenses		5,317,260		5,339,626		10,611,727		10,599,494
Operating Income (loss)		688,769		630,412		314,465		(112	)
Interest, dividend and other income		94,132		110,991		240,660		257,298
Earnings before provision for income taxes		782,901		741,403		555,125		257,186
Provision for income taxes		274,000		259,500		194,300		90,000
Net Earnings	$	508,901	$	481,903	$	360,825	$	167,186
Earnings per share-basic & diluted	$	.10	$	.09	$	.07	$	.03
NET EARNINGS PER SHARE	$	.10	$	.09	$	.07	$	.03
Weighted average shares outstanding		5,160,971		5,160,971		5,160,971		5,160,971
Dividends paid	$	877,365	$	877,365	$	1,754,730	$	1,754,730
Per share, dividends paid, Class A	$	.17	$	.17	$	.34	$	.34
Per share, dividends paid, Class B	$	.17	$	.17	$	.34	$	.34

The operating results for the thirteen (13) and twenty-six (26) week periods ended December 27, 2015 are not necessarily indicative of results to be expected for the year.  See notes to condensed consolidated financial statements.

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BOWL AMERICA INCORPORATED AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (CONTINUED)

(Unaudited)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS

	Thirteen Weeks Ended					Twenty-six Weeks Ended
	December 27,		December 28,			December 27,			December 28,
	2015		2014			2015			2014
Net Earnings	$	508,901	$	481,903		$	360,825		$	167,186
Other comprehensive earnings- net of tax
Unrealized gain (loss) on available-for-sale securities net of tax (benefit) of $89,467 and ($74,506) for 13 weeks, and $91,345 and ($100,296) for 26 weeks		145,356		(121,049	)		(148,406	)		(162,948	)
Reclassification adjustment for gain included in net
Income net of tax of $9,258		-		-			(15,041	)		-
Comprehensive earnings	$	654,257	$	360,854		$	197,378		$	4,238

The operating results for the thirteen (13) and twenty-six (26) week periods ended December 27, 2015 are not necessarily indicative of results to be expected for the year.

See notes to condensed consolidated financial statements.

3

BOWL AMERICA INCORPORATED AND SUBSIDIARIES

Condensed  Consolidated Balance Sheets

(Unaudited)

	As of
	December 27,		June 28,
	2015		2015
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	2,061,395	$	778,367
Short-term investments		133,754		133,729
Inventories		596,645		552,889
Prepaid expenses and other		189,136		488,212
Income taxes refundable		58,009		51,309
TOTAL CURRENT ASSETS		3,038,939		2,004,506
LAND, BUILDINGS & EQUIPMENT
Net of accumulated depreciation of $40,902,232 and $40,237,794		19,854,951		20,417,454
OTHER ASSETS:
Marketable securities		7,662,594		8,866,392
Cash surrender value-life insurance		707,592		707,592
Other		66,465		66,465
TOTAL OTHER ASSETS		8,436,651		9,640,449
TOTAL ASSETS	$	31,330,541	$	32,062,409
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	536,007	$	709,453
Accrued expenses		728,465		1,001,754
Dividends payable		877,365		877,365
Other current liabilities		1,663,655		290,833
Current deferred income taxes		9,113		9,113
TOTAL CURRENT LIABILITIES		3,814,605		2,888,518
LONG-TERM DEFERRED COMPENSATION		28,897		28,897
NONCURRENT DEFERRED INCOME TAXES		2,070,312		2,170,915
TOTAL LIABILITIES		5,913,814		5,088,330
COMMITMENTS AND CONTINGENCIES (Note 3)
STOCKHOLDERS' EQUITY
Preferred stock, par value $10 a share:
Authorized and unissued, 2,000,000 shares		-		-
Common stock, par value $.10 a share:
Authorized, 10,000,000 shares
Class A issued and outstanding 3,746,454		374,645		374,645
Class B issued and outstanding 1,414,517		141,452		141,452
Additional paid-in capital		7,854,108		7,854,108
Accumulated other comprehensive earnings-
Unrealized gain on available-for-sale securities, net of tax		2,289,441		2,452,888
Retained earnings		14,757,081		16,150,986
TOTAL STOCKHOLDERS' EQUITY		25,416,727		26,974,079
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	31,330,541	$	32,062,409

See notes to condensed consolidated financial statements.

4

BOWL AMERICA INCORPORATED AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS  OF CASH FLOWS

(Unaudited)

	Twenty-six Weeks Ended
	December 27,			December 28,
	2015			2014
Cash Flows From Operating Activities
Net earnings	$	360,825		$	167,186
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization		674,782			656,205
Gain on sale of available-for-sale securities		(24,299	)		-
Changes in assets and liabilities
Increase in inventories		(43,756	)		(60,633	)
Decrease in prepaid & other		299,076			513,795
Increase in income taxes refundable		(6,700	)		(2,000	)
(Increase) decrease in other long-term assets		-			(800	)
Decrease in accounts payable		(173,446	)		(151,863	)
Decrease in accrued expenses		(273,289	)		(449,513	)
Decrease in income taxes payable		-			-
Increase in other current liabilities		1,372,822			1,336,479
Net cash provided by operating activities		2,186,015			2,008,856
Cash Flows From Investing Activities
Expenditures for land, building and equip		(112,279	)		(404,791	)
Net sales & maturities (purchases) of short-term investments		(25	)		1,319,754
Proceeds from sale of available-for-sale securities		1,000,000			-
Purchases of marketable securities		(35,953	)		(50,409	)
Net cash provided by (used in) Investing activities		851,743			864,554
Cash Flows From Financing Activities
Payment of cash dividends		(1,754,730	)		(1,754,730	)
Net cash used in financing activities		(1,754,730	)		(1,754,730	)
Net Increase (decrease) in Cash and Equivalents		1,283,028			1,118,680
Cash and Equivalents, Beginning of period		778,367			842,114
Cash and Equivalents, End of period	$	2,061,395		$	1,960,794
Supplemental Disclosures of Cash Flow Information
Cash Paid During the Period for:
Income taxes	$	201,000		$	92,000

See notes to condensed consolidated financial information.

5

BOWL AMERICA INCORPORATED AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the Thirteen and Twenty-six Weeks Ended

December 27, 2015

(Unaudited)

1.  Basis for Presentation

The accompanying unaudited condensed consolidated financial statements of Bowl America Incorporated and subsidiaries (the "Company"), have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission.  The condensed consolidated balance sheet as of June 28, 2015 has been derived from the Company's audited financial statements.  Certain information and note disclosures normally included in the annual financial statements, prepared in accordance with accounting principles generally accepted in the United States of America, have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information presented not misleading.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments and reclassifications (all of which are of a normal, recurring nature) that are necessary for the fair presentation of the Company’s financial position and results of operations for the periods presented.  These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended June 28, 2015.

2.  Investments

     The Company’s investments are categorized as available-for-sale. Short-term investments consist of certificates of deposits with maturities of generally three months to one year. Equity securities consist primarily of telecommunications stocks. Mutual funds consist of federal agency mortgage backed securities (Ginnie Mae). The fair value of the Company’s investments at December 27, 2015 and June 28, 2015 were as follows:

December 27, 2015 Description	Fair Value		Cost basis		Unrealized Gain/ (loss)
Short-term investments	$	133,754	$	133,754	$	-
Equity securities	$	4,932,251	$	1,285,759	$	3,646,492
Mutual funds	$	2,730,343	$	2,678,243	$	52,100

June 28, 2015 Description	Fair Value		Cost basis		Unrealized Gain (loss)
Short-term investments	$	133,729	$	133,729	$	-
Equity securities	$	5,190,387	$	1,285,759	$	3,904,628
Mutual funds	$	3,676,005	$	3,617,991	$	58,014

6

The fair values of the Company’s investments were determined as follows:

December 27, 2015 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	133,754	$	-
Equity securities		4,932,251		-		-
Mutual funds		2,730,343		-		-
Total	$	7,662,594	$	133,754	$	-

June 28, 2015 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	133,729	$	-
Equity securities		5,190,387		-		-
Mutual funds		3,676,005		-		-
Total	$	8,866,392	$	133,729	$	-

The shares of common stock included in the equity securities portfolio as of December 27, 2015 were:

AT&T shares	82,112
Manulife shares	2,520
DexMedia shares	412
NCR shares	774
Teradata shares	774
Vodafone shares	6,471
CenturyLink shares	4,398
Frontier Communications shares	4,508
Sprint shares	40,000
Verizon shares	31,904
Windstream shares	679
CSAL shares	815

The Mutual fund included in the table above is Vanguard GNMA Admiral Shares #536 fund. The fair value of certificates of deposits is estimated using present value techniques and comparing the values derived from those techniques to certificates with similar values.

3. Commitments and Contingencies

The Company’s purchase commitments at December 27, 2015 are for materials, supplies, services and equipment as part of the normal course of business.

4.  Employee benefit plans

The Company has two defined contribution plans with Company contributions determined by the Board of Directors.  The Company has no defined benefit plan or other postretirement plan.

5. New Accounting Standards

      There were no new accounting pronouncements during the quarter that would impact the Company.

7

6. Subsequent Events

      The Company has evaluated subsequent events through the time of filing these financial statements with the Securities and Exchange Commission on February 9, 2016, and has determined that no material subsequent events have occurred.

7.  Reclassifications

Certain previous year amounts have been reclassified to conform with current year presentation.

8

ITEM 2.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains forward-looking statements concerning our business, operations and financial performance and condition as well as our plans, objectives and expectations for our business operations and financial performance and condition that are subject to risks and uncertainties. All statements other than statements of historical fact included in this Quarterly Report on Form 10-Q are forward-looking statements. These forward-looking statements are based on current expectations, estimates, forecasts and projections about our business, our sales and the industry in which we operate and our management’s beliefs and assumptions. These statements are not guarantees of future performance or development and involve risks, uncertainties and other factors that are in some cases beyond our control. The forward-looking statements included in this Quarterly Report on Form 10-Q are made as the date hereof. We are under no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

LIQUIDITY AND CAPITAL RESOURCES

The Company views a strong financial position as a major benefit to shareholders and emphasizes payment of dividends as part of its financial plan.  A portion of earnings has consistently been invested to create a reserve to protect the Company in downturns in business, to capitalize on opportunities for expansion and modernization and to provide a secure source of income.  For these reasons, the Company prefers a conservative approach to investing rather than taking greater risk for possible rapid growth.  The Company balances market volatility by using both fixed income and equity investments in managing its reserve funds. Any equity security is subject to price fluctuation, however, the stocks held by the Company have relatively low volatility. The Company has long been invested in a Government National Mortgage Association (“Ginnie Mae”) fund and domestically domiciled stocks with the perceived potential of appreciation, primarily telecommunications stocks. The Company considers that this diversity also provides a measure of safety of principal.

With the exception of 13,120 shares of Verizon, the common stocks in our portfolio have come from spin-offs, mergers and acquisitions of AT&T and United Telecommunications (now Sprint) purchased in 1979 and 1984 and from one insurance company acquired at no cost when that company demutualized. The Company purchased a total of 10,000 shares of Verizon during previous periods at a cost of approximately $430,000 and 3,120 shares of Verizon were received as a special dividend from Vodafone. Not all stocks in the portfolio are domestic American companies any longer. Since the original purchases at an approximate cost of $630,000, we have received approximately $967,000 from mergers and sales, and over $4,151,000 in dividends, the majority of which receive favorable tax treatment in the form of a dividends received deduction from federal taxable income. The dividends received deduction continues into this fiscal year. These equity securities are carried at their fair value on the last day of each reporting period. The fair value of the securities on December 27, 2015 was approximately $4,900,000.

The Company’s original investment in the Vanguard GNMA bond fund began in 1988 with purchases of shares in the fund totaling approximately $1,400,000. In August 2015, $1,000,000 of this fund was redeemed to meet the August 2015 dividend payment. The fund is carried at fair value on the last day of the reporting period. At December 27, 2015, the value was approximately $2,730,000.

Short-term investments consisting mainly of Certificates of Deposits, and cash and cash equivalents totaled $2,195,000 at the end of the fiscal second quarter of 2016 compared to $912,000 at June 28, 2015.

The Company’s position in all the above investments is a source of capital for possible expansion. Potential volatility in the trading prices of the marketable securities held by the Company could impact the Company’s opportunities for expansion. The Board of Directors reviews the portfolio weekly and any use of this reserve at its quarterly meetings.

In the six-month period ended December 27, 2015, the Company expended approximately $112,000 for the purchase of building, entertainment and restaurant equipment. The Company has no long-term debt and has made no application for third party funding as cash and cash flows are sufficient to finance all contemplated purchases and to meet short-term purchase commitments and operating lease commitments.

9

The six-month decreases in the categories of Prepaid expenses and other, Accounts Payable and Accrued Expenses are primarily due to seasonal timing of payments including compensation, insurance and taxes and for contributions to benefit plans.

Current liabilities generally increase during the first three quarters of the fiscal year as leagues deposit prize fund monies with the Company throughout the league season. These funds are returned to the leagues at the end of the bowling season, generally in the fourth quarter. At December 27, 2015, league deposits of approximately $1,449,000 were included in the current liabilities category.

Cash flow provided by operating activities in the twenty-six weeks ended December 27, 2015 was $2,186,000 which, along with cash on hand, and redemption of a portion of the Vanguard GNMA fund, mentioned above, was sufficient to meet day-to-day cash needs and pay dividends. Cash dividends of approximately $877,000, or $.17 per share, were paid to shareholders during the quarter ended December 27, 2015, and the six months total was approximately $1,754,000 or $.34 per share.   In December 2015 the Company declared a regular quarterly dividend of $.17 per share, payable February 10, 2016 to shareholders of record on January 14, 2016. The economic climate is part of the consideration at the Directors’ quarterly reviews of future estimates of cash flows. The Board of Directors decides the amount and timing of any dividend at its quarterly meeting based on its appraisal of the state and trends of the business and estimate of future opportunities at such time.

OVERVIEW

The Company is in the entertainment business which, by its nature, has ups and downs based on consumer tastes and preferences.  Generally, promotional and open play bowling which depends on the public’s discretionary budget dollars and their choices, accounts for more than half of our business. An unstable economy can lead many to participate in entertainment that is close to home and relatively inexpensive.  Bowling has those advantages.  However the longer the economy remains unsteady, the less willing people are to spend on other than necessities.  Weather is also a factor, especially for casual bowlers.  While extreme heat or rainy weather prompt people to look for indoor activities, heavy snow storms can keep customers from reaching the centers. Postponed league games are made up later in the season, but lost open play income is never recovered.  The Company operates primarily in the Washington, DC area where its business is vulnerable to decreases in government spending or other downsizing of the federal government. Current economic conditions continue to create challenging times but our response will be helped by having the resources to be able to promote the sport.

RESULTS OF OPERATIONS

The following tables set forth the items in our consolidated summary of operations for the fiscal quarters and year-to-date periods ended December 27, 2015, and December 28, 2014, and the dollar and percentage changes therein.

	Thirteen weeks ended
	December 27, 2015 and December 28, 2014
	Dollars in thousands
	2015		2014		Change			% Change
Operating Revenues:
Bowling and other	$	4,166	$	4,203	$	(37	)		(0.9	)
Food, beverage and merchandise sales		1,840		1,767		73			4.1
Total Operating Revenue		6,006		5,970		36			0.6
Operating Expenses:
Employee Compensation and benefits		2,736		2,742		(6	)		(0.2	)
Cost of bowling and other services		1,447		1,478		(31	)		(2.1	)
Cost of food, beverage and merchandise sales		563		554		9			1.6
Depreciation and amortization		339		331		8			(2.4	)
General and administrative		232		235		(3	)		(1.3	)
Total Operating Expenses		5,317		5,340		(23	)		(.4	)
Operating Income		689		630		59			9.4
Interest, dividend and other income		94		111		(17	)		(15.3	)
Earnings before taxes		783		741		42			5.7
Income taxes		274		259		15			5.8
Net Earnings	$	509		482		27			5.6

10

	Twenty-six weeks ended
	December 27, 2015 and December 28, 2014
	Dollars in thousands
	2015		2014		Change			% Change
Operating Revenues:
Bowling and other	$	7,640	$	7,505	$	135			1.8
Food, beverage and merchandise sales		3,286		3,094		192			6.2
Total Operating Revenues		10,926		10,599		327			3.1
Operating Expenses:
Employee Compensation and benefits		5,483		5,495		(12	)		(0.2	)
Cost of bowling and other services		2,958		3,007		(49	)		(1.6	)
Cost of food, beverage and merchandise sales		1,033		989		44			4.4
Depreciation and amortization		675		656		19			2.9
General and administrative		463		452		11			2.4
Total Operating Expenses		10,612		10,599		13			.1
Operating income		314		0		314			100.0
Interest, dividend and other income		241		257		(16	)		6.2
Earnings before taxes		555		257		298			116.0
Income taxes		194		90		104			115.6
Net Earnings	$	361	$	167	$	194			116.2

Earnings were $508,901 or $.10 per share for the thirteen week period and $360,825 or $.07 per share for the twenty-six week period ended December 27, 2015. For the thirteen-week and twenty-six periods ended December 28, 2014, net earnings were $481,903 or $.09 per share and $167,186 or $.03 per share, respectively. Management believes that the continuing uncertainty of an economic recovery and the consequences of federal tax and spending provisions are influencing the public’s view of discretionary spending. The operating results for fiscal 2016 periods included in this report are not necessarily indicative of results to be expected for the year.

Operating Revenues

Total operating revenues increased $36,000 to $6,006,000 in the most recent quarter compared to an increase of $3,000 to $5,970,000 in the three-month period ended December 28, 2014.  The current fiscal six-month period operating revenues were up $327,000 versus a decrease of $118,000 in the comparable six-month period a year ago.  Bowling and other revenue decreased $37,000 in the quarter and increased $135,000 year-to-date for the periods ended December 27, 2015 versus a decline of $13,000 in the quarter and a decrease of $106,000 for the six-month period ended December 28, 2014.

Food, beverage and merchandise sales increased $73,000 or 4% in the current year quarter and were up $192,000 in the six-month period.  Cost of sales increased 2% in the current fiscal three month period and 4% for the six month period ended December 27, 2015.

 Operating Expenses

Operating expenses were down $23,000 in the current three month period and were up $13,000 in six-month period or less than 1%, respectively, versus decreases of  $152,000 or 3% and $263,000 or 2% in the three and six month periods, respectively, last year.  Employee compensation and benefits for the three and six month periods were down $6,000 and $12,000 or less than 1%, respectively, in the periods ended December 27, 2015. Group health insurance costs decreased 10% as a result of changes in plan offerings and lower premiums. In the prior year comparable periods employee compensation and benefits expenses were down $26,000 or 1% and $87,000 or 2%, respectively.

Included in this category of expense are contributions to our two benefit plans, both of which are defined contribution plans. There is no additional obligation beyond the current year contribution.

11

Cost of bowling and other services decreased $49,000 or 2% and decreased $127,000 or 4% in the six-month periods ended December 27, 2015 and December 28, 2014, respectively. In the twenty-six weeks ended December 27, 2015, maintenance and repair costs declined $14,000 or 3%. Advertising costs during the current year twenty-six week period ended December 27, 2015, were flat. For the fiscal six month period ended December 27, 2015 utility costs were down 2% primarily a result of lower gas expense as November and December were unseasonably mild. Supplies and services expenses were up $9,000 or 2% in the current year six-month period and were down $11,000 or 3% in the six-month period in the prior year. The timing of purchases was the primary reason for the fluctuations in both years.

Insurance expense excluding health insurance decreased 10% in the current year-to-date period versus a decrease of 1% in last year’s comparable period.

Depreciation and amortization expense was up 3% in the current six-month period and down 9% in the prior year six-month period.

As a result of the above, the first six-month period of fiscal 2016 resulted in operating income of $314,000 compared to an operating loss of $112 in the prior year comparable six-month period.

Interest, Dividend and Other Income

Interest, dividend and other income decreased $16,000 in the fiscal 2016 six-month period and increased $28,000 in the comparable 2015 year-to-date period, respectively. The current year decrease relates primarily to ancillary income.

CRITICAL ACCOUNTING POLICIES

Management has identified accounting for marketable investment securities as a critical accounting policy due to the significance of the amounts included in the Company’s balance sheet under the captions of Short-term investments and Marketable securities.  The Company exercises judgment in determining the classification of its investment securities as available-for-sale and in determining their fair value.  The Company records these investments at their fair value with the unrealized gain or loss recorded in accumulated other comprehensive earnings, a component of stockholders’ equity, net of deferred taxes.  Additionally, from time to time the Company must assess whether write-downs are necessary for other than temporary declines in value.

Management has identified accounting for the impairment of long-lived assets as a critical accounting policy due to the significance of the amounts included in the Company’s balance sheet under the caption of Land, Buildings and Equipment.  The Company reviews long-lived assets whenever events or changes indicate that the carrying amount of an asset may not be recoverable.  In making such evaluations, the Company compares the expected future cash flows to the carrying amount of the assets.  An impairment loss equal to the difference between the assets’ fair value and carrying value is recognized when the estimated future cash flows are less than the carrying amount.

ITEM 4. CONTROLS AND PROCEDURES.

The Company’s Chief Executive Officer and Chief Financial Officer have concluded that the Company’s disclosure controls and procedures are effective based on their evaluation of such controls and procedures as of December 27, 2015. There was no change in the Company’s internal control over financial reporting identified in connection with the evaluation that occurred during the quarter ended December 27, 2015, that materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

12

BOWL AMERICA INCORPORATED AND SUBSIDIARIES

S.E.C. FORM 10-Q

PART II - OTHER INFORMATION

Item 6.  Exhibits.

20	Press release issued February 9, 2016 (furnished herewith)
31.1	Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act filed herewith
31.2	Certification of Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act filed herewith
32	Written Statement of the Chief Executive Officer and Chief Financial Officer Pursuant to 18 U.S.C. 1350 filed herewith
101	Interactive data files for the thirteen and twenty six weeks ended December 27, 2015 in eXtensible Business Reporting Language

13

Pursuant to the requirements of the Securities Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	Bowl America Incorporated
	(Registrant)
Date: February 9, 2016	By: /s/ Leslie H Goldberg
	Leslie H. Goldberg, President
Date: February 9, 2016	By: /s/ Cheryl A Dragoo
	Cheryl A. Dragoo, CFO

14

EX-20

 Exhibit 20  Press release issued February 9, 2016

For Immediate Release  February 9, 2016

BOWL AMERICA REPORTS INCREASED SECOND QUARTER EARNINGS

Bowl America Incorporated today reported earnings for its fiscal 2016 second quarter ended December 27, 2015, increased to $.10 per share from $.09 per share in the prior year period. Earnings for the current and prior year six-month periods were $.07 and $.03 per share, respectively.

Current year quarterly improvements in food and beverage sales and decreases in operating expenses were responsible for the increase. The third quarter will be negatively impacted by January’s “Blizzard of 2016,” the fourth worst storm in the past 100 years, which caused the closure of all centers in our northern market for at least 3 days. League postponements will be made up in the third and fourth quarters, however lost open play revenue cannot be recaptured and high snow removal expense will take a toll on third quarter profits.

Bowl America operates 18 bowling centers and its Class A Common Stock trades on the NYSE MKT Exchange with the symbol BWLA. A more detailed explanation of results is available in the Company’s S.E.C. Form 10-Q filing, available at the Company’s web site www.bowlamericainc.com.

BOWL AMERICA INCORPORATED

Results of Operations

(unaudited)

	Thirteen weeks ended				Twenty-six weeks ended
	December 27,		December 28,		December 27,		December 28,
	2015		2014		2015		2014
Revenues
Bowling and other	$	4,166,052	$	4,203,410	$	7,640,085	$	7,504,753
Food, beverage & merchandise sales		1,839,977		1,766,628		3,286,107		3,094,629
		6,006,029		5,970,038		10,926,192		10,599,382
Operating expenses excluding depreciation and amortization		4,978,665		5,008,813		9,936,945		9,943,289
Depreciation and amortization		338,595		330,813		674,782		656,205
Interest, dividend and other income		94,132		110,991		240,660		257,298
Earnings before taxes		782,901		741,403		555,125		257,186
Net Earnings	$	508,901	$	481,903	$	360,825	$	167,186
Comprehensive earnings (loss)	$	654,257	$	360,854	$	197,378	$	4,238
Weighted average shares outstanding		5,160,971		5,160,971		5,160,971		5,160,971
EARNINGS PER SHARE		.10		.09		.07		.03

SUMMARY OF FINANCIAL POSITION

(unaudited)

Dollars in Thousands

	12/27/15		12/28/14
ASSETS
Total current assets including cash and short-term investments of $2,195 & $2,094	$	3,039	$	3,087
Property and investments		28,292		30,161
TOTAL ASSETS	$	31,331	$	33,248
LIABILITIES AND STOCKHOLDERS' EQUITY
Total current liabilities	$	3,815	$	3,718
Other liabilities		2,099		2,302
Stockholders' equity		25,417		27,228
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	31,331	$	33,248

EX-31.1

EX-31.1

Exhibit 31.1 to Form 10-Q

Certification of Chief Executive Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a)

Or 15d-14(a) under the Securities Exchange Act of 1934

I, Leslie H. Goldberg, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Bowl America Incorporated;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our  supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal  control over financial reporting.

Date: February 9, 2016	/s/ Leslie H Goldberg
	Leslie H Goldberg Chief Executive Officer

EX-31.2

Exhibit 31.2

Exhibit 31.2 to Form 10Q

Certification of Chief Financial Officer

Pursuant to Section 302 of the Sarbanes-Oxley Act and Rule 13a-14(a)

Or 15d-14(a) under the Securities Exchange Act of 1934

I, Cheryl A. Dragoo, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Bowl America Incorporated;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for  external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal  control over financial reporting.

Date: February 9, 2016	/s/  Cheryl A Dragoo
	Cheryl A Dragoo Chief Financial Officer

EX-32

Exhibit 32 to Form 10Q

Written Statement of the Chief Executive Officer and Chief Financial Officer

Pursuant to 18 U.S.C. 1350

       Solely for the purposes of complying with 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, we, the undersigned Chief Executive Officer and Chief Financial Officer of Bowl America Incorporated (the "Company"), respectively, hereby certify, based on our knowledge, that the Quarterly Report on Form 10-Q of the Company for the quarter ended December 27, 2015 (the "Report"), fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Leslie H Goldberg

Leslie H. Goldberg

Chief Executive Officer

/s/ Cheryl A Dragoo

Cheryl A. Dragoo

Chief Financial Officer

Date: February 9, 2016

XML

Document And Entity Information - shares	6 Months Ended
	Dec. 27, 2015	Jan. 28, 2016
Common Class B [Member]
Entity Common Stock, Shares Outstanding (in shares)		1,414,517
Common Class A [Member]
Entity Common Stock, Shares Outstanding (in shares)		3,746,454
Entity Registrant Name	BOWL AMERICA INC
Entity Central Index Key	0000013573
Trading Symbol	bwla
Current Fiscal Year End Date	--07-03
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Type	10-Q
Document Period End Date	Dec. 27, 2015
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q2
Amendment Flag	false

XML

Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 27, 2015	Dec. 28, 2014	Dec. 27, 2015	Dec. 28, 2014
Common Class A [Member]
Operating Expenses:
Per share, dividends paid (in dollars per share)	$ 0.17	$ 0.17	$ 0.34	$ 0.34
Common Class B [Member]
Operating Expenses:
Per share, dividends paid (in dollars per share)	$ 0.17	$ 0.17	$ 0.34	$ 0.34
Bowling and other	$ 4,166,052	$ 4,203,410	$ 7,640,085	$ 7,504,753
Food, beverage and merchandise sales	1,839,977	1,766,628	3,286,107	3,094,629
Total Operating Revenues	6,006,029	5,970,038	10,926,192	10,599,382
Employee compensation and benefits	2,736,556	2,742,256	5,483,101	5,495,483
Cost of bowling and other services	1,447,483	1,478,048	2,958,095	3,006,754
Cost of food, beverage and merchandise sales	563,038	553,436	1,032,380	988,626
Depreciation and amortization	338,595	330,813	674,782	656,205
General and administrative	231,588	235,073	463,369	452,426
Total Operating Expenses	5,317,260	5,339,626	10,611,727	10,599,494
Operating Income (loss)	688,769	630,412	314,465	(112)
Interest, dividend and other income	94,132	110,991	240,660	257,298
Earnings before provision for income taxes	782,901	741,403	555,125	257,186
Provision for income taxes	274,000	259,500	194,300	90,000
Net Earnings	$ 508,901	$ 481,903	$ 360,825	$ 167,186
Earnings per share-basic & diluted (in dollars per share)	$ 0.10	$ 0.09	$ 0.07	$ 0.03
Weighted average shares outstanding (in shares)	5,160,971	5,160,971	5,160,971	5,160,971
Dividends paid	$ 877,365	$ 877,365	$ 1,754,730	$ 1,754,730

XML

Condensed Consolidated Statements of Comprehensive Earnings - USD ($)	3 Months Ended		6 Months Ended
	Dec. 27, 2015	Dec. 28, 2014	Dec. 27, 2015	Dec. 28, 2014
Net earnings	$ 508,901	$ 481,903	$ 360,825	$ 167,186
Other comprehensive earnings- net of tax
Unrealized gain (loss) on available-for-sale securities net of tax (benefit) of $89,467 and ($74,506) for 13 weeks, and $91,345 and ($100,296) for 26 weeks	$ 145,356	$ (121,049)	(148,406)	$ (162,948)
Reclassification adjustment for gain included in net income net of tax of $9,258			(15,041)
Comprehensive earnings	$ 654,257	$ 360,854	$ 197,378	$ 4,238

XML

Condensed Consolidated Statements of Comprehensive Earnings (Parentheticals) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 27, 2015	Dec. 28, 2014	Dec. 27, 2015	Dec. 28, 2014
Unrealized gain (loss) on available-for-sale securities tax	$ 89,467	$ (74,506)	$ 91,345	$ (100,296)
Reclassification adjustment for gain tax			$ 9,258

XML

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Dec. 27, 2015	Jun. 28, 2015
Common Class A [Member]
STOCKHOLDERS' EQUITY
Common stock, par value $.10 a share: Authorized, 10,000,000 shares	$ 374,645	$ 374,645
Common Class B [Member]
STOCKHOLDERS' EQUITY
Common stock, par value $.10 a share: Authorized, 10,000,000 shares	141,452	141,452
Cash and cash equivalents	2,061,395	778,367
Short-term investments	133,754	133,729
Inventories	596,645	552,889
Prepaid expenses and other	189,136	488,212
Income taxes refundable	58,009	51,309
TOTAL CURRENT ASSETS	3,038,939	2,004,506
LAND, BUILDINGS & EQUIPMENTNet of accumulated depreciation of $40,902,232 and $40,237,794	19,854,951	20,417,454
Marketable securities	7,662,594	8,866,392
Cash surrender value-life insurance	707,592	707,592
Other	66,465	66,465
TOTAL OTHER ASSETS	8,436,651	9,640,449
TOTAL ASSETS	31,330,541	32,062,409
Accounts payable	536,007	709,453
Accrued expenses	728,465	1,001,754
Dividends payable	877,365	877,365
Other current liabilities	1,663,655	290,833
Current deferred income taxes	9,113	9,113
TOTAL CURRENT LIABILITIES	3,814,605	2,888,518
LONG-TERM DEFERRED COMPENSATION	28,897	28,897
NONCURRENT DEFERRED INCOME TAXES	2,070,312	2,170,915
TOTAL LIABILITIES	$ 5,913,814	$ 5,088,330
COMMITMENTS AND CONTINGENCIES[Note 3]
Preferred stock, par value $10 a share: Authorized and unissued, 2,000,000 shares
Additional paid-in capital	$ 7,854,108	$ 7,854,108
Accumulated other comprehensive earnings - Unrealized gain on available-for-sale securities, net of tax	2,289,441	2,452,888
Retained earnings	14,757,081	16,150,986
TOTAL STOCKHOLDERS' EQUITY	25,416,727	26,974,079
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 31,330,541	$ 32,062,409

XML

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($)	Dec. 27, 2015	Jun. 28, 2015
Common Class A [Member]
Common stock, shares issued (in shares)	3,746,454	3,746,454
Common stock, shares outstanding (in shares)	3,746,454	3,746,454
Common Class B [Member]
Common stock, shares issued (in shares)	1,414,517	1,414,517
Common stock, shares outstanding (in shares)	1,414,517	1,414,517
Accumulated depreciation	$ 40,902,232	$ 40,237,794
Preferred stock, par value (in dollars per share)	$ 10	$ 10
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	10,000,000	10,000,000

XML

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Dec. 27, 2015	Dec. 28, 2014
Cash Flows From Operating Activities
Net earnings	$ 360,825	$ 167,186
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	674,782	$ 656,205
Gain on sale of available-for-sale securities	(24,299)
Changes in assets and liabilities
Increase in inventories	(43,756)	$ (60,633)
Decrease in prepaid & other	299,076	513,795
Increase in income taxes refundable	$ (6,700)	(2,000)
(Increase) decrease in other long-term assets		(800)
Decrease in accounts payable	$ (173,446)	(151,863)
Decrease in accrued expenses	$ (273,289)	$ (449,513)
Decrease in income taxes payable
Increase in other current liabilities	$ 1,372,822	$ 1,336,479
Net cash provided by operating activities	2,186,015	2,008,856
Cash Flows From Investing Activities
Expenditures for land, building and equip	(112,279)	(404,791)
Net sales & maturities (purchases) of short-term investments	(25)	$ 1,319,754
Proceeds from sale of available-for-sale securities	1,000,000
Purchases of marketable securities	(35,953)	$ (50,409)
Net cash provided by (used in) Investing activities	851,743	864,554
Cash Flows From Financing Activities
Payment of cash dividends	(1,754,730)	(1,754,730)
Net cash used in financing activities	(1,754,730)	(1,754,730)
Net Increase (decrease) in Cash and Equivalents	1,283,028	1,118,680
Cash and Equivalents, Beginning of period	778,367	842,114
Cash and Equivalents, End of period	2,061,395	1,960,794
Supplemental Disclosures of Cash Flow Information
Income taxes	$ 201,000	$ 92,000

XML

Note 1 - Basis for Presentation

6 Months Ended

Dec. 27, 2015

Notes to Financial Statements

Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]

1.  Basis for Presentation

The accompanying unaudited condensed consolidated financial statements of Bowl America Incorporated and subsidiaries (the "Company"), have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission.  The condensed consolidated balance sheet as of June 28, 2015 has been derived from the Company's audited financial statements.  Certain information and note disclosures normally included in the annual financial statements, prepared in accordance with accounting principles generally accepted in the United States of America, have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information presented not misleading.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments and reclassifications (all of which are of a normal, recurring nature) that are necessary for the fair presentation of the Company’s financial position and results of operations for the periods presented.  These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended June 28, 2015.

XML

Note 2 - Investments

6 Months Ended

Dec. 27, 2015

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

2.  Investments

     The Company’s investments are categorized as available-for-sale. Short-term investments consist of certificates of deposits with maturities of generally three months to one year. Equity securities consist primarily of telecommunications stocks. Mutual funds consist of federal agency mortgage backed securities (Ginnie Mae). The fair value of the Company’s investments at December 27, 2015 and June 28, 2015 were as follows:

December 27 , 201 5 Description	Fair Value		Cost basis		Unrealized Gain/ (loss)
Short-term investments	$	133,754	$	133,754	$	-
Equity securities	$	4,932,251	$	1,285,759	$	3,646,492
Mutual funds	$	2,730,343	$	2,678,243	$	52,100

Ju ne 28, 201 5 Description	Fair Value		Cost basis		Unrealized Gain (loss)
Short-term investments	$	133,729	$	133,729	$	-
Equity securities	$	5,190,387	$	1,285,759	$	3,904,628
Mutual funds	$	3,676,005	$	3,617,991	$	58,014

The fair values of the Company’s investments were determined as follows:

December 27, 2015 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	133,754	$	-
Equity securities		4,932,251		-		-
Mutual funds		2,730,343		-		-
Total	$	7,662,594	$	133,754	$	-

June 28, 2015 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	133,729	$	-
Equity securities		5,190,387		-		-
Mutual funds		3,676,005		-		-
Total	$	8,866,392	$	133,729	$	-

The shares of common stock included in the equity securities portfolio as of December 27, 2015 were:

82,112	shares of AT&T
2,520	shares of Manulife
412	shares of DexMedia
774	shares of NCR
774	shares of Teradata
6,471	shares of Vodafone
4,398	shares of CenturyLink
4,508	shares of Frontier Communications
40,000	shares of Sprint
31,904	shares of Verizon
679	shares of Windstream
815	shares of CSAL

      The Mutual fund included in the table above is Vanguard GNMA Admiral Shares #536 fund. The fair value of certificates of deposits is estimated using present value techniques and comparing the values derived from those techniques to certificates with similar values.

XML

Note 3 - Commitments and Contingencies

6 Months Ended

Dec. 27, 2015

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

3. Commitments and Contingencies

The Company’s purchase commitments at December 27, 2015 are for materials, supplies, services and equipment as part of the normal course of business.

XML

Note 4 - Employee Benefit Plans

6 Months Ended

Dec. 27, 2015

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

4.  Employee benefit plans

The Company has two defined contribution plans with Company contributions determined by the Board of Directors.  The Company has no defined benefit plan or other postretirement plan.

XML

Note 5 - New Accounting Standards

6 Months Ended

Dec. 27, 2015

Notes to Financial Statements

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

5. New Accounting Standards

      There were no new accounting pronouncements during the quarter that would impact the Company.

XML

Note 6 - Subsequent Events

6 Months Ended

Dec. 27, 2015

Notes to Financial Statements

Subsequent Events [Text Block]

6. Subsequent Events

      The Company has evaluated subsequent events through the time of filing these financial statements with the Securities and Exchange Commission on February 9, 2016, and has determined that no material subsequent events have occurred.

XML

Note 7 - Reclassifications

6 Months Ended

Dec. 27, 2015

Notes to Financial Statements

Reclassifications [Text Block]

7.  Reclassifications

Certain previous year amounts have been reclassified to conform with current year presentation.

XML

Significant Accounting Policies (Policies)

6 Months Ended

Dec. 27, 2015

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

The accompanying unaudited condensed consolidated financial statements of Bowl America Incorporated and subsidiaries (the "Company"), have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission.  The condensed consolidated balance sheet as of June 28, 2015 has been derived from the Company's audited financial statements.  Certain information and note disclosures normally included in the annual financial statements, prepared in accordance with accounting principles generally accepted in the United States of America, have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information presented not misleading.

In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments and reclassifications (all of which are of a normal, recurring nature) that are necessary for the fair presentation of the Company’s financial position and results of operations for the periods presented.  These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended June 28, 2015.

XML

Note 2 - Investments (Tables)

6 Months Ended

Dec. 27, 2015

Notes Tables

Available-for-sale Securities [Table Text Block]

December 27 , 201 5 Description	Fair Value		Cost basis		Unrealized Gain/ (loss)
Short-term investments	$	133,754	$	133,754	$	-
Equity securities	$	4,932,251	$	1,285,759	$	3,646,492
Mutual funds	$	2,730,343	$	2,678,243	$	52,100

Ju ne 28, 201 5 Description	Fair Value		Cost basis		Unrealized Gain (loss)
Short-term investments	$	133,729	$	133,729	$	-
Equity securities	$	5,190,387	$	1,285,759	$	3,904,628
Mutual funds	$	3,676,005	$	3,617,991	$	58,014

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

December 27, 2015 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	133,754	$	-
Equity securities		4,932,251		-		-
Mutual funds		2,730,343		-		-
Total	$	7,662,594	$	133,754	$	-

June 28, 2015 Description	Quoted Price for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Certificates of deposits	$	-	$	133,729	$	-
Equity securities		5,190,387		-		-
Mutual funds		3,676,005		-		-
Total	$	8,866,392	$	133,729	$	-

Schedule Of Telecommunications Stocks Held [Table Text Block]

82,112	shares of AT&T
2,520	shares of Manulife
412	shares of DexMedia
774	shares of NCR
774	shares of Teradata
6,471	shares of Vodafone
4,398	shares of CenturyLink
4,508	shares of Frontier Communications
40,000	shares of Sprint
31,904	shares of Verizon
679	shares of Windstream
815	shares of CSAL

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Note 2 - Investments (Details Textual)	6 Months Ended
	Dec. 27, 2015
Minimum [Member]
Short-term Investments Maturities Term	90 days
Maximum [Member]
Short-term Investments Maturities Term	1 year

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Note 2 - Investments - Investments Schedule (Details) - USD ($)	Dec. 27, 2015	Jun. 28, 2015
Short-term Investments [Member]
Fair Value	$ 133,754	$ 133,729
Cost basis	$ 133,754	$ 133,729
Unrealized Gain/(loss)
Equity Securities [Member]
Fair Value	$ 4,932,251	$ 5,190,387
Cost basis	1,285,759	1,285,759
Unrealized Gain/(loss)	3,646,492	3,904,628
Mutual Funds [Member]
Fair Value	2,730,343	3,676,005
Cost basis	2,678,243	3,617,991
Unrealized Gain/(loss)	$ 52,100	$ 58,014

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Note 2 - Investments - Fair Value Hierarchy (Details) - USD ($)	Dec. 27, 2015	Jun. 28, 2015
Certificates of Deposit [Member] | Fair Value, Inputs, Level 1 [Member]
Quoted Price for Identical Assets
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]
Quoted Price for Identical Assets	$ 133,754	$ 133,729
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Quoted Price for Identical Assets	$ 4,932,251	$ 5,190,387
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Quoted Price for Identical Assets
Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Quoted Price for Identical Assets	$ 2,730,343	$ 3,676,005
Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Quoted Price for Identical Assets
Fair Value, Inputs, Level 1 [Member]
Quoted Price for Identical Assets	$ 7,662,594	$ 8,866,392
Fair Value, Inputs, Level 2 [Member]
Quoted Price for Identical Assets	133,754	133,729
Quoted Price for Identical Assets	$ 7,662,594	$ 8,866,392

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Note 2 - Investments - Telecommunications Stocks Held (Details)	Dec. 27, 2015 shares
ATT [Member]
Investment (in shares)	82,112
Manulife [Member]
Investment (in shares)	2,520
DexMedia [Member]
Investment (in shares)	412
NCR [Member]
Investment (in shares)	774
Teradata [Member]
Investment (in shares)	774
Vodafone [Member]
Investment (in shares)	6,471
Century Link [Member]
Investment (in shares)	4,398
Frontier Communications [Member]
Investment (in shares)	4,508
Sprint [Member]
Investment (in shares)	40,000
Verizon [Member]
Investment (in shares)	31,904
Windstream [Member]
Investment (in shares)	679
CSAL [Member]
Investment (in shares)	815

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Note 4 - Employee Benefit Plans (Details Textual)	6 Months Ended
	Dec. 27, 2015
Number of Defined Contribution Plans	2