Note D - Revenues

3 Months Ended

Jun. 28, 2020

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE D – REVENUES

The Company’s disaggregated revenues for the thirteen weeks ended June 28, 2020 and June 30, 2019 are as follows (in thousands):

	Thirteen weeks ended
	June 28, 2020		June 30, 2019
Branded Products	$	4,749	$	16,113
Company-operated restaurants		1,934		4,124
Total sales		6,683		20,237
License royalties		10,523		8,722
Royalties		110		980
Franchise fees		81		97
Total franchise fees and royalties		191		1,077
Advertising fund revenue		289		482
Total revenues	$	17,686	$	30,518

The following table disaggregates revenues by primary geographical market (in thousands):

	Thirteen weeks ended
	June 28, 2020		June 30, 2019
United States	$	17,412	$	29,387
International		274		1,131
Total revenues	$	17,686	$	30,518

Contract balances

The following table provides information about contract liabilities (Deferred franchise fees) from contracts with customers (in thousands):

	June 28, 2020		March 29, 2020
Deferred franchise fees (a)	$	1,856	$	1,917

(a) Deferred franchise fees of $229 and $1,627 as of June 28, 2020 and $230 and $1,687 as of March 29, 2020 are included in Deferred franchise fees – current and long term, respectively.

Significant changes in Deferred franchise fees are as follows (in thousands):

	Thirteen weeks ended
	June 28, 2020			June 30, 2019
Deferred franchise fees at beginning of period	$	1,917		$	3,005
Additions to deferred revenue		20			18
Revenue recognized during the period		(81	)		(97	)
Deferred franchise fees at end of period	$	1,856		$	2,926

Anticipated Future Recognition of Deferred Franchise Fees

The following table reflects the estimated franchise fees to be recognized in the future related to performance obligations that are unsatisfied at the end of the period (in thousands):

	Estimate for fiscal year
2021 (a)	$	172
2022		221
2023		198
2024		186
2025		177
Thereafter		902
Total	$	1,856

(a) Represents franchise fees expected to be recognized for the remainder of the 2021 fiscal year, which includes international development fees expected to be recognized over the duration of one year or less. Amount does not include $81 of franchise fee revenue recognized for the thirteen weeks ended June 28, 2020.

We have applied the optional exemption, as provided for under Topic 606, which allows us not to disclose the transaction price allocated to unsatisfied performance obligations when the transaction price is a sales-based royalty.