Note D - Revenues

6 Months Ended

Sep. 27, 2020

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE D – REVENUES

The Company’s disaggregated revenues for the thirteen and twenty-six weeks ended September 27, 2020 and September 29, 2019 are as follows (in thousands):

	Thirteen weeks ended				Twenty-six weeks ended
	September 27, 2020		September 29, 2019		September 27, 2020		September 29, 2019
Branded Products	$	9,698	$	16,182	$	14,447	$	32,295
Company-operated restaurants		2,994		5,924		4,928		10,048
Total sales		12,692		22,106		19,375		42,343
License royalties		8,268		5,425		18,791		14,147
Franchise royalties		409		1,047		519		2,027
Franchise fees		67		451		148		548
Total franchise fees and royalties		476		1,498		667		2,575
Advertising fund revenue		403		697		692		1,179
Total revenues	$	21,839	$	29,726	$	39,525	$	60,244

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

	Thirteen weeks ended				Twenty-six weeks ended
	September 27, 2020		September 29, 2019		September 27, 2020		September 29, 2019
United States	$	21,501	$	28,235	$	38,913	$	57,622
International		338		1,491		612		2,622
Total revenues	$	21,839	$	29,726	$	39,525	$	60,244

Contract balances

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

	September 27, 2020		March 29, 2020
Deferred franchise fees (a)	$	1,834	$	1,917

(a) Deferred franchise fees of $225 and $1,609 as of September 27, 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):

	Twenty-six weeks ended
	September 27, 2020			September 29, 2019
Deferred franchise fees at beginning of period		1,917			3,005
Additions to deferred revenue		65			59
Revenue recognized during the period		(148	)		(548	)
Deferred franchise fees at end of period	$	1,834		$	2,516

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)	$	114
2022		218
2023		195
2024		183
2025		175
Thereafter		949
Total	$	1,834

(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 $148 of franchise fee revenue recognized for the twenty-six weeks ended September 27, 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.