Bowl America Inc. continued to roll strikes on its balance sheet, reporting higher earnings for the quarter and fiscal year ended July 1.
The Alexandria-based company, which has 27 bowling centers in Washington, Baltimore, Richmond and the Florida cities of Jacksonville and Orlando, said it earned $4.3 million in the fiscal year, up almost 7 percent from the $4.1 million it earned a year earlier.
Per-share earnings rose to $1.51 from $1.42, and revenue increased almost 6 percent for the year, to $27.3 million from $25.8 million.
In the fourth quarter, Bowl America earned $870,945 (30 cents a share), up more than 23 percent from year-ago fourth-quarter profits of $705,673 (25 cents).
Revenue increased more than 8 percent in the quarter, to $6.2 million from $5.8 million.
The company said the growing popularity of bowling leagues boosted its profits, despite the increase in bowling lanes operated by competitors.
Non-league play also grew, "helped by weather that was favorable for indoor recreation," a company statement said.
Bowl America said the growth of league play continued into the fiscal 1991 first quarter.
But the company said its fiscal 1991 results aren't likely to match last year's because of two factors -- the economic slowdown, which is expected to affect both league and non-league bowling, and the use of its cash reserves to build two new bowling centers, which is expected to cut into interest income.