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CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 24, 2016
Sep. 26, 2015
Sep. 24, 2016
Sep. 26, 2015
REVENUE:        
Royalties $ 11,311,000 $ 11,286,100 $ 32,140,800 $ 31,226,700
Leasing income 4,174,000 3,247,000 12,839,000 16,919,900
Merchandise sales 520,000 762,300 1,882,400 2,182,300
Franchise fees 501,800 483,200 1,367,800 1,253,500
Other 227,500 220,900 984,400 917,900
Total revenue 16,734,300 15,999,500 49,214,400 52,500,300
COST OF MERCHANDISE SOLD 499,100 711,600 1,784,800 2,055,600
LEASING EXPENSE 646,200 173,400 2,010,400 4,941,300
PROVISION FOR CREDIT LOSSES (29,700) 38,800 (52,000) (123,400)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 5,180,700 5,733,900 17,671,500 18,226,700
Income from operations 10,438,000 9,341,800 27,799,700 27,400,100
INTEREST EXPENSE (552,300) (687,700) (1,786,800) (1,142,900)
INTEREST AND OTHER INCOME (EXPENSE) (6,300) (12,400) (7,300) (61,800)
Income before income taxes 9,879,400 8,641,700 26,005,600 26,195,400
PROVISION FOR INCOME TAXES (3,785,200) (3,302,100) (9,954,200) (10,050,100)
NET INCOME $ 6,094,200 $ 5,339,600 $ 16,051,400 $ 16,145,300
EARNINGS PER SHARE - BASIC (in dollars per share) $ 1.48 $ 1.29 $ 3.90 $ 3.53
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 1.41 $ 1.23 $ 3.72 $ 3.39
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 4,116,957 4,128,031 4,113,819 4,568,813
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 4,328,168 4,338,230 4,320,284 4,758,158