Seasonality. Shrinkage.
Seasonality. Shrinkage, which initially shall be the amount equal to that percentage of actual shrink in excess of the percentage accrued by the Borrowers.
Seasonality. The predictable annual change in seasons for a specific region that influences the demand for vacation travel to the region.
Seasonality. Shrinkage (to the extent not already reflected in the calculation of Eligible Inventory).
Seasonality. The Company's business is subject to seasonal fluctuations, the effects of weather and economic conditions. Earnings have been highest in its fourth fiscal quarter due primarily to increased customer traffic during the holiday shopping season. The fourth fiscal quarter typically accounts for approximately 40% of annual net income. The length of the holiday shopping period between Thanksgiving and Christmas and the number of weeks in the fourth quarter also impacts the fourth quarter earnings relationship from year to year. NEW RESTAURANT CONCEPTS During 1995, the Company began developing three new restaurant concepts. The first is a casual dining concept under the name Umberto's of New Hyde Park, featuring pizza and other Italian-style foods. The Company has an 80% interest in this restaurant business. Umberto's currently operates five restaurants on Long Island, New York, with three additional units planned for 1998 openings and five food court units in regional shopping malls in Chicago, Las Vegas, White Plains and Long Island, New York. The Company is also developing with joint venture partners a family-style steakhouse concept and an upscale, table-service Italian restaurant, and is analyzing the market potential of a new concept that would offer healthy, South-of-the-Border cuisine. PROPERTIES All Sbarro restaurants are operated in leased premises. As of December 28, 1997, the Company leased 641 restaurants, of which 34 were subleased to franchisees under terms which cover all obligations of the Company under the lease. The remaining franchisees directly lease their restaurant space. Most of the Company's restaurant leases provide for the payment of base rents plus real estate taxes, utilities, insurance, common area charges and certain other expenses, as well as contingent rents generally ranging from 8% to 10% of net restaurant sales in excess of stipulated amounts. Leases to which the Company was a party at December 28, 1997 have initial terms expiring as follows: Years Initial Lease Number of Company- Number of Franchised Terms Expire Owned Restaurants Restaurants ------------ ----------------- ----------- 1998 26 4 1999 - 2003 336 25 2004 - 2008 239 5 2009 - 2012 6 0 Since May 1986, the Company's headquarters have been located in a two-story 20,000 square foot office building located in Commack, New York, which is leased for a period of fifteen years at a current annual base rent of $337,000. The Company pays real estate taxes, utilities, insuran...
Seasonality. The Company’s sales are subject to seasonal variances that fluctuate in accordance with the normal home building season, particularly in the Canadian market. The Company generally experiences higher sales in the second and third quarters compared to the first and fourth quarters. In addition, forestry operations and harvesting activities can be compromised by inaccessibility to some sites during wet seasons and extreme winter weather conditions, resulting in decreased harvest and customer delivery levels. This creates a timing difference between free cash flow earned and dividends paid. While the Company has leveled dividends to provide a regular income stream to shareholders over the course of a year, the second and third quarters have historically been the (in $ millions, per share in dollars) 2016 2015 2014 Sales 978.3 824.7 759.5 Earnings before income taxes 57.4 17.0 17.1 Net earnings 49.9 12.3 12.3 Net earnings before non-recurring items (1) 21.1 13.2 12.3 Net earnings per share (basic and diluted) 0.97 0.35 0.43 Net earnings per share (based and diluted), before non-recurring items (1) 0.41 0.37 0.43 Total assets 569.4 400.1 296.2 Long-term debt (2) 183.2 153.8 131.2 Dividends declared to shareholders 30.3 19.9 16.1 Dividends declared to shareholders (per share) 0.56 0.56 0.56 Weighted average basic shares outstanding 51,409,974 35,551,386 28,704,089 1. Net earnings before directly attributable acquisition related costs and gain on bargain purchase relating to the Acquisitions.
Seasonality. 2.1.1. Here is a breakdown of the estimated number of orders to be received in a fiscal month and then the daily average:
a. January [**] monthly = [**] daily
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l. December [**] monthly = [**] daily
Seasonality. A principal source of timeshare revenue relates to exchange services to members. Since members have historically shown a tendency to plan their vacations in the first quarter of the year, revenues are generally slightly higher in the first quarter in comparison to other quarters of the year. We cannot predict whether this trend will continue in the future as the timeshare business expands outside of the United States and Europe, and as global travel patterns shift with the aging of the world population. CAR RENTAL BUSINESS
Seasonality. Although the death care business is relatively stable and fairly predictable, our business can be affected by seasonal fluctuations in the death rate. Generally, death rates are higher during the winter months.
