Annual report pursuant to Section 13 and 15(d)

Segments of Business

v3.3.1.900
Segments of Business
 12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Segments of Business

15. SEGMENTS OF BUSINESS

 

The Company is in the business of operating restaurants and its operations are organized by geographic region and by brand within each region. Further each restaurant location produces monthly financial statements at the individual store level. The Company’s chief operating decision maker reviews revenues and profitability at the individual restaurant location level, as well as for Full Service Hooters, Better Burger Fast Casual and Just Fresh Fast Casual level, and corporate as a group.

 

The following are revenues and operating income (loss) from continuing operations by segment as of and for the years ended December 31, 2015 and 2014. The Company does not aggregate or review non-current assets at the segment level.

 

    Years Ended  
    December 31, 2015     December 31, 2014  
Revenue:                
Hooters Full Service   $ 21,931,096     $ 21,284,710  
Better Burgers Fast Casual     14,542,094       3,230,519  
Just Fresh Fast Casual     5,498,790       4,838,815  
Corporate and Other     424,829       489,390  
    $ 42,396,809     $ 29,843,434  
                 
Operating Income (Loss):                
Hooters Full Service *   $ (6,602,559 )   $ (773,447 )
Better Burgers Fast Casual     (1,357,055 )     (1,641,363 )
Just Fresh Fast Casual     (33,248 )     (62,854 )
Corporate and Other     (3,495,054 )     (3,066,644 )
    $ (11,487,916 )   $ (5,544,308 )

 

* Includes $4.9 million non-cash asset impairment charge in 2015

 

The following are revenues, operating loss, and long-lived assets by geographic area as of and for the years ended December 31, 2015 and 2014.

 

    Years Ended  
    December 31, 2015     December 31, 2014  
Revenue:                
United States   $ 25,528,467     $ 12,941,648  
South Africa     6,430,524       6,632,024  
Australia     6,453,377       5,613,381  
Europe     3,984,441       4,656,381  
    $ 42,396,809     $ 29,843,434  
                 
Operating Income (Loss):                
United States   $ (5,114,687 )   $ (4,886,279 )
South Africa     (162,228 )     (373,558 )
Australia *     (6,266,695 )     (277,557 )
Europe     55,694       (6,914 )
    $ (11,487,916 )   $ (5,544,308 )

 

* Includes $4.9 million non-cash asset impairment charge in 2015

 

    December 31, 2015     December 31, 2014  
Non-current Assets:                
United States   $ 27,956,486     $ 15,434,108  
South Africa     2,393,147       2,172,528  
Australia     4,781,020       13,068,305  
Europe     3,255,977       3,648,133  
                 
    $ 38,386,630     $ 34,323,074