Note D - Revenues

3 Months Ended

Jun. 27, 2021

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 27, 2021 and June 28, 2020 are as follows (in thousands):

	Thirteen weeks ended
	June 27, 2021		June 28, 2020
Branded Products	$	15,996	$	4,749
Company-operated restaurants		3,329		1,934
Total sales		19,325		6,683
License royalties		10,682		10,523
Royalties		800		110
Franchise fees		107		81
Total franchise fees and royalties		907		191
Advertising fund revenue		405		289
Total revenues	$	31,319	$	17,686

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

	Thirteen weeks ended
	June 27, 2021		June 28, 2020
United States	$	30,601	$	17,412
International		718		274
Total revenues	$	31,319	$	17,686

Contract balances

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

	June 27, 2021		March 28, 2021
Receivables, which are included in “Accounts and other receivables, net” (a)	$	300	$	-
Deferred franchise fees (b)	$	2,196	$	1,773

(a) Includes receivables related to “franchise fees and royalties”

(b) Deferred franchise fees of $345 and $1,851 as of June 27, 2021 and $237 and $1,536 as of March 28, 2021 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 27 2021			June 28, 2020
Deferred franchise fees at beginning of period	$	1,773		$	1,917
Additions to deferred revenue		530			20
Revenue recognized during the period		(107	)		(81	)
Deferred franchise fees at end of period	$	2,196		$	1,856

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
2022 (a)	$	260
2023		319
2024		301
2025		283
2026		258
Thereafter		775
Total	$	2,196

(a) Represents franchise fees expected to be recognized for the remainder of the 2022 fiscal year, which includes international development fees expected to be recognized over the duration of one year or less. Amount does not include $107 of franchise fee revenue recognized for the thirteen weeks ended June 27, 2021.