• Filing Date: 2018-07-13
  • Form Type: 10-Q
  • Description: Quarterly report
v3.10.0.1
Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
May 31, 2018
May 31, 2017
Revenues    
Total revenues $ 8,366,085 $ 9,346,447
Costs and Expenses    
Cost of sales 4,665,242 5,014,965
Sales and marketing 588,250 626,352
General and administrative 914,447 1,128,706
Depreciation and amortization, exclusive of depreciation and amortization expense of $136,505 and $125,616, respectively, included in cost of sales 301,000 194,934
Restructuring charges 58,188 0
Total costs and expenses 7,582,849 8,052,573
Income from Operations 783,236 1,293,874
Other Income (Expense)    
Interest expense (22,639) (35,189)
Interest income 4,577 7,218
Other, net (18,062) (27,971)
Income Before Income Taxes 765,174 1,265,903
Income Tax Provision 188,230 452,231
Consolidated Net Income $ 576,944 $ 813,672
Basic Earnings per Common Share (in dollars per share) $ 0.10 $ 0.14
Diluted Earnings per Common Share (in dollars per share) $ 0.10 $ 0.14
Weighted Average Common Shares Outstanding - Basic (in shares) 5,905,414 5,854,372
Dilutive Effect of Restricted Stock Units (in shares) 77,594 123,366
Weighted Average Common Shares Outstanding - Diluted (in shares) 5,983,008 5,977,738
Product [Member]    
Revenues    
Total revenues $ 6,582,049 $ 7,206,939
Franchise and Royalty Fees [Member]    
Revenues    
Total revenues 1,784,036 2,139,508
Franchise [Member]    
Costs and Expenses    
Costs 493,250 514,792
Retail [Member]    
Costs and Expenses    
Costs $ 562,472 $ 572,824