Note C - Revenues

3 Months Ended

Jun. 26, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

NOTE C – REVENUES

The Company’s disaggregated revenues for the thirteen weeks ended June 26, 2022 and June 27, 2021 are as follows (in thousands):

	Thirteen weeks ended
	June 26, 2022		June 27, 2021
Branded Products	$	23,171	$	15,996
Company-owned restaurants		3,723		3,329
Total sales		26,894		19,325
License royalties		11,314		10,682
Royalties		901		800
Franchise fees		192		107
Total franchise fees and royalties		1,093		907
Advertising fund revenue		419		405
Total revenues	$	39,720	$	31,319

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

	Thirteen weeks ended
	June 26, 2022		June 27, 2021
United States	$	37,917	$	30,601
International		1,803		718
Total revenues	$	39,720	$	31,319

Contract balances

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

	June 26, 2022		March 27, 2022
Receivables, which are included in “Accounts and other receivables, net” (a)	$	-	$	312
Deferred franchise fees (b)	$	1,963	$	2,097

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

(b) Deferred franchise fees of $357 and $1,606 as of June 26, 2022 and $349 and $1,748 as of March 27, 2022 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 26, 2022			June 27, 2021
Deferred franchise fees at beginning of period	$	2,097		$	1,773
New deferrals due to cash received and other		58			530
Revenue recognized during the period		(192	)		(107	)
Deferred franchise fees at end of period	$	1,963		$	2,196

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
2023 (a)	$	269
2024		348
2025		329
2026		293
2027		171
Thereafter		553
Total	$	1,963

(a) Represents franchise fees expected to be recognized for the remainder of the 2023 fiscal year, which includes international development fees expected to be recognized over the duration of one year or less. Amount does not include $192 of franchise fee revenue recognized for the thirteen weeks ended June 26, 2022.