| BUSINESS SEGMENTS | (9 ) BUSINESS SEGMENTS: We operate principally in two reportable segments package stores and restaurants. The operation of package stores consists of retail liquor sales and related items. Information concerning the revenues and operating income for the thirteen weeks and twenty six weeks ended April 2, 2016 and March 28, 2015, and identifiable assets for the two reportable segments in which we operate, are shown in the following table. Operating income is total revenue less cost of merchandise sold and operating expenses relative to each segment. In computing operating income, none of the following items have been included: interest expense, other non-operating income and expenses and income taxes. Identifiable assets by segment are those assets that are used in our operations in each segment. Corporate assets are principally cash and real property, improvements, furniture, equipment and vehicles used at our corporate headquarters. We do not have any operations outside of the United States and transactions between restaurants and package liquor stores are not material.
(in thousands)
Thirteen Weeks Ending April 2, 2016
Thirteen Weeks Ending March 28, 2015
Operating Revenues:
Restaurants $ 22,358 $ 21,101
Package stores 3,994 4,133
Other revenues 622 660
Total operating revenues $ 26,974 $ 25,894
Income from Operations Reconciled to Income After Income Taxes and Net Income Attributable to Noncontrolling Interests
Restaurants $ 2,774 $ 2,555
Package stores 188 358
2,962 2,913
Corporate expenses, net of other revenues (984 ) (556 )
Income from Operations 1,978 2,357
Interest expense (138 ) (153 )
Interest and other income 11 20
Income Before Provision for Income Taxes $ 1,851 $ 2,224
Provision for Income Taxes (432 ) (512 )
Net Income 1,419 1,712
Net Income Attributable to Noncontrolling Interests (545 ) (588 )
Net Income Attributable to Flanigan's Enterprises, Inc.
Stockholders $ 874 $ 1,124
Depreciation and Amortization:
Restaurants $ 516 $ 501
Package stores 53 49
569 550
Corporate 83 122
Total Depreciation and Amortization $ 652 $ 672
Capital Expenditures:
Restaurants $ 383 $ 2,074
Package stores 63 44
446 2,118
Corporate 181 34
Total Capital Expenditures $ 627 $ 2,152
Twenty Six Weeks Ending April 2, 2016
Twenty Six Weeks Ending March 28, 2015
Operating Revenues:
Restaurants $ 42,640 $ 39,879
Package stores 8,354 8,124
Other revenues 1,258 1,211
Total operating revenues $ 52,252 $ 49,214
Income from Operations Reconciled to Income After Income Taxes and Net Income Attributable to Noncontrolling Interests
Restaurants $ 4,259 $ 4,071
Package stores 526 689
4,785 4,760
Corporate expenses, net of other revenues (1,456 ) (1,081 )
Income from Operations 3,329 3,679
Interest expense (284 ) (312 )
Interest and Other Income 37 33
Income Before Provision for Income Taxes $ 3,082 $ 3,400
Provision for Income Taxes (712 ) (829 )
Net Income 2,370 2,571
Net Income Attributable to Noncontrolling Interests (872 ) (740 )
Net Income Attributable to Flanigan's Enterprises, Inc.
Stockholders $ 1,498 $ 1,831
Depreciation and Amortization:
Restaurants 1,011 $ 995
Package stores 101 102
1,112 1,097
Corporate 215 239
Total Depreciation and Amortization $ 1,327 $ 1,336
Capital Expenditures:
Restaurants $ 878 $ 2,400
Package stores 197 100
1,075 2,500
Corporate 1,332 266
Total Capital Expenditures $ 2,407 $ 2,766
April 2,
October 3,
2016 2015
Identifiable Assets:
Restaurants $ 29,778 $ 29,478
Package store 4,984 4,393
34,762 33,871
Corporate 22,092 20,751
Consolidated Totals $ 56,854 $ 54,622 |
