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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jul. 01, 2017
Jun. 25, 2016
Jul. 01, 2017
Jun. 25, 2016
REVENUE:        
Royalties $ 11,094,400 $ 10,557,300 $ 21,548,400 $ 20,829,800
Leasing income 3,946,600 4,152,300 9,806,200 8,665,000
Merchandise sales 537,100 625,300 1,285,400 1,362,400
Franchise fees 675,400 493,500 944,700 866,000
Other 496,000 471,400 788,600 756,900
Total revenue 16,749,500 16,299,800 34,373,300 32,480,100
COST OF MERCHANDISE SOLD 499,100 588,300 1,214,100 1,285,700
LEASING EXPENSE 660,600 460,100 1,932,000 1,364,200
PROVISION FOR CREDIT LOSSES (11,500) (7,900) (12,900) (22,300)
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 6,467,100 5,936,200 12,970,500 12,490,800
Income from operations 9,134,200 9,323,100 18,269,600 17,361,700
INTEREST EXPENSE (446,300) (593,800) (945,400) (1,234,500)
INTEREST AND OTHER INCOME (EXPENSE) 100 9,500 1,900 (1,000)
Income before income taxes 8,688,000 8,738,800 17,326,100 16,126,200
PROVISION FOR INCOME TAXES (2,914,800) (3,344,500) (6,136,500) (6,169,000)
NET INCOME $ 5,773,200 $ 5,394,300 $ 11,189,600 $ 9,957,200
EARNINGS PER SHARE - BASIC (in dollars per share) $ 1.37 $ 1.31 $ 2.67 $ 2.42
EARNINGS PER SHARE - DILUTED (in dollars per share) $ 1.29 $ 1.25 $ 2.50 $ 2.31
WEIGHTED AVERAGE SHARES OUTSTANDING - BASIC (in shares) 4,201,982 4,110,429 4,184,558 4,112,254
WEIGHTED AVERAGE SHARES OUTSTANDING - DILUTED (in shares) 4,483,647 4,318,763 4,467,072 4,316,346