• Filing Date: 2019-07-15
  • Form Type: 10-Q
  • Description: Quarterly report
v3.19.2
Consolidated Statements of Income - USD ($)
3 Months Ended
May 31, 2019
May 31, 2018
Revenues    
Total revenues $ 8,425,999 $ 8,366,085
Costs and Expenses    
Cost of sales 4,614,744 4,665,242
Sales and marketing 556,651 588,250
General and administrative 1,144,731 914,447
Depreciation and amortization, exclusive of depreciation and amortization expense of $145,699, $136,505, respectively, included in cost of sales 231,955 301,000
Costs associated with Company-owned store closures 58,188
Total costs and expenses 7,479,996 7,582,849
Income from Operations 946,003 783,236
Other Income (Expense)    
Interest Expense (12,398) (22,639)
Interest Income 10,179 4,577
Other income (expense), net (2,219) (18,062)
Income Before Income Taxes 943,784 765,174
Income Tax Provision 232,175 188,230
Consolidated Net Income $ 711,609 $ 576,944
Basic Earnings per Common Share (in dollars per share) $ 0.12 $ 0.10
Diluted Earnings per Common Share (in dollars per share) $ 0.11 $ 0.10
Weighted Average Common Shares Outstanding - Basic (in shares) 5,962,278 5,905,414
Dilutive Effect of Employee Stock Awards (in shares) 272,286 77,594
Weighted Average Common Shares Outstanding - Diluted (in shares) 6,234,564 5,983,008
Product [Member]    
Revenues    
Total revenues $ 6,460,611 $ 6,582,049
Franchise and Royalty Fees [Member]    
Revenues    
Total revenues 1,965,388 1,784,036
Franchise [Member]    
Costs and Expenses    
Costs 483,013 493,250
Retail [Member]    
Costs and Expenses    
Costs $ 448,902 $ 562,472