Parks America Q4 net income down to $482K; FY22 net income $727K vs $2.8M last year

PARKS AMERICA, INC

Q4 total net sales $3.07M, down $219K YoY; park attendance-based sales fell 7.5%.
FY22 net income $727K ($0.01/share) vs $2.80M ($0.04/share) in FY21, down $2.07M.
Adjusted net income for FY22 (excl. legal settlement) was $800K, down $1.81M YoY.
Working capital $4.67M; total debt $4.96M; debt-to-equity ratio 0.32 to 1.0.
Comparable FY22 attendance-based sales up >40% vs 2019 on 12% attendance gain and 30% per-capita increase.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PARKS AMERICA, INC reported the fiscal year ended October 2, 2022 results: revenue $10.7 million, net income $727,491, EPS $0.01 per basic share and per fully diluted share.

Period: the fiscal year ended October 2, 2022
Revenue: $10.7 million
Net income: $727,491
EPS: $0.01 per basic share and per fully diluted share
Result: reported results

Exact text from the filing

Reported total net sales for the fiscal year ended October 2, 2022 were $10.7 million, a decrease of $1.12 million, compared to the fiscal year ended October 3, 2021. Our parks’ combined attendance based net sales decreased by $1.05 million or 9.0%, and animal sales decreased by $75,607. On a comparable 52-week basis, attendance based net sales decreased by $848,862 or 7.4%. The Company reported net income of $727,491 or $0.01 per basic share and per fully diluted share, for the fiscal year ended October 2, 2022, compared to a net income of $2.80 million or $0.04 per basic share and per fully diluted share, for the fiscal year ended October 3, 2021, resulting in a decrease of $2.07 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PARKS AMERICA, INC reported the fiscal quarter ended October 2, 2022 results: revenue $3.07 million, net income $482,409, EPS $0.01 per basic share and per fully diluted share.

Period: the fiscal quarter ended October 2, 2022
Revenue: $3.07 million
Net income: $482,409
EPS: $0.01 per basic share and per fully diluted share
Result: reported results

Exact text from the filing

Reported total net sales for the fiscal quarter ended October 2, 2022 were $3.07 million, a decrease of $219,249, compared to the fiscal quarter ended October 3, 2021. Our parks’ combined attendance based net sales decreased by $240,140 or 7.5%, and animal sales increased by $20,891. The Company reported net income of $482,409 or $0.01 per basic share and per fully diluted share, for the fiscal quarter ended October 2, 2022, compared to a net income of $765,730 million or $0.01 per basic share and per fully diluted share, for the fiscal quarter ended October 3, 2021, resulting in a decrease of $283,321.

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Source: SEC EDGAR

accession 0001493152-22-035583

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