Advantica Reports Third-quarter Results; Denny's Continues Growth in Same-Store Sales and EBITDA.SPARTANBURG Spartanburg, city (1990 pop. 43,467), seat of Spartanburg co., NW S.C., in the Piedmont (see under piedmont) near the N.C. line; inc. 1831. The city is noted for its textile production. , S.C.--(BUSINESS WIRE)--Nov. 3, 1998--Advantica Restaurant Group, Inc. (Nasdaq: DINE) today reported an increase in EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become for the third quarter ended September September: see month. 30, 1998 to $62.0 million from $61.1 million in the prior year quarter. For the three quarters ended September 30, 1998, the Company reported EBITDA of $174.1 million, a nine percent increase over $159.2 million recorded in the prior year period. Commenting on the Company's results for the third quarter, Advantica Chairman and Chief Executive Officer James James, person in the Bible James, in the Gospel of St. Luke, kinsman of St. Jude. The original does not specify the relationship. James, rivers, United States James. B. Adamson “Adamson” redirects here. For other uses, see Adamson (disambiguation).
The Adamson was an English car manufactured in Enfield, Middlesex, from 1912 to 1925. said, "The operating momentum of Denny's Denny's is the largest full-service family restaurant chain in the United States. It operates over 2,500 restaurants in the United States (including Puerto Rico), Canada, Curaçao, Costa Rica, El Salvador, Japan, Mexico, and New Zealand. , our largest brand, continued to improve during the quarter, with systemwide same-store sales Same-store sales is a business term which refers to the revenue generated by one of a retail chain's specific outlets during a certain period of time (often a fiscal quarter or a particular shopping season), compared to an identical period in the past, usually in the previous year. increasing 2.6 percent over the prior year quarter. Fourth-quarter sales trends through October October: see month. are showing an even greater improvement. Denny's progress continues to be driven by the successful product promotions of All-Star all-star adj. Made up wholly of star performers: an all-star cast. n. Sports One chosen for a team of star players. Slams at breakfast and Major League Burgers Burgers are hamburgers. Burgers may also refer to:
"Importantly, initial results from our new remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling program, designed to give Denny's a more distinct and upbeat brand positioning, make us optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the prospects of accelerating this momentum going forward. Test results in the Orlando Orlando, city, United States Orlando (ôrlăn`dō), city (1990 pop. 164,693), seat of Orange co., central Fla., in a lake region; inc. 1875. In a citrus fruit and farm area, it is one of the world's most visited vacation spots. market have been very encouraging, with our three remodeled restaurants producing double-digit dou·ble-dig·it adj. Being between 10 and 99 percent: double-digit inflation. year-over-year average sales increases for the past two months. This program borrows design elements from our new 'Denny's Classic Diner' concept, which features an upbeat, nostalgic nos·tal·gi·a n. 1. A bittersweet longing for things, persons, or situations of the past. 2. The condition of being homesick; homesickness. diner diner, restaurant resembling the railroad dining car that is its source. In the mid-19th cent., the first dining cars that appeared on trains were nothing more than an empty car with a fastened-down table. George M. atmosphere. The remodeled Denny's restaurants and the new Denny's Classic Diners Diners can mean:
tr.v. re·mod·eled also re·mod·elled, re·mod·el·ing also re·mod·el·ling, re·mod·els also re·mod·els To make over in structure or style; reconstruct. testing of three additional Denny's restaurants in a second market later this month and another three restaurants in a third market during December December: see month. . Based on the results of these tests, the Company expects to begin an aggressive remodeling of company-owned restaurants in early 1999," said Adamson. "Average unit sales unit sales Sales measured in terms of physical units rather than dollars. Unit sales data are often used by financial analysts when evaluating the health of a company. results for the Denny's Classic Diner, which is a brand new restaurant carrying a relatively low investment cost, continue to outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. average sales levels for traditional Denny's restaurants. There are currently eight Classic Diners in operation, of which five are franchised and three are company-owned. We expect to accelerate new unit development of this concept in both company-owned and franchised operations during 1999. "While we were disappointed in the results at Coco's and Carrows Carrows is a chain of casual dining restaurants operating in the western portion of the United States. As of 2004, the chain operates over 100 restaurants, mostly in California and with locations in New Mexico, Nevada, Oregon, Texas, and Washington. , we are actively addressing the price/value perception of these brands. Customer counts for both concepts rebounded late in the third quarter in response to selected value-priced menu promotions. We have already made substantial changes to Carrows' menu, including overall simplification sim·pli·fy tr.v. sim·pli·fied, sim·pli·fy·ing, sim·pli·fies To make simple or simpler, as: a. To reduce in complexity or extent. b. To reduce to fundamental parts. c. and introduction of menu items with higher taste profiles, and plan to considerably revise the Coco's menu and begin testing a facilities re-imaging program in that concept early next year. "El Pollo Loco El Pollo Loco is a fast-food restaurant chain and Mexican grilled chicken franchise. "El Pollo Loco" is Spanish for "The Crazy Chicken". Juan Francisco Ochoa started the restaurant in Guasave, Mexico, in 1975. recorded an increase in EBITDA during the quarter and is proceeding well with franchise and company-owned new unit development. We continue to be very optimistic about this brand's potential in the southwestern south·west n. 1. Abbr. SW The direction or point on the mariner's compass halfway between due south and due west, or 135° west of due north. 2. An area or region lying in the southwest. 3. U.S. "Since emerging from our financial reorganization The process of carrying out, through agreements and legal proceedings, a business plan for winding up the affairs of, or foreclosing a mortgage upon, the property of a corporation that has become insolvent. in January January: see month. of this year, we have achieved major improvements in our business portfolio, capital structure and the base business of our largest concept, Denny's. We sold two declining businesses at attractive prices, reduced long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. by an additional $270 million and improved our liquidity and financial flexibility, resulting in over $200 million in surplus cash on hand. We believe that our best investment alternative is to reinvest re·in·vest tr.v. re·in·vest·ed, re·in·vest·ing, re·in·vests To invest (capital or earnings) again, especially to invest (income from securities or funds) in additional shares. in our business, to enhance operating performance and to realize the significant potential of our restaurant brands," concluded Adamson. For the quarter ended September 30, 1998, the Company reported revenue of $461.7 million compared with $463.0 million in the prior year period, with the slight decrease primarily reflecting fewer company-owned restaurants versus the prior year quarter. The loss from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the for the quarter was $36.5 million, or $0.91 per common share, which reflected estimated aggregate net charges of approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $42.1 million, or $1.05 per share, consisting of noncash amortization and depreciation items related to the implementation of fresh start reporting upon emergence from Chapter 11. Excluding these fresh start items, income from continuing operations for the quarter would have been $5.6 million, or $0.14 per share. Income (loss) per share for periods prior to the Effective Date, as defined herein, is not comparable to subsequent periods due to the reorganization and implementation of fresh start reporting. Due to the significant noncash depreciation and amortization charges related to fresh start reporting, the Company will continue to report EBITDA as a measure of financial performance and will also report net income (loss) figures on a conventional basis as well as an adjusted basis to exclude the effect of noncash amortization and depreciation items related to fresh start reporting. Year-To-Date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. Results For purposes of providing a meaningful comparison of the Company's operating performance, the discussion and presentation of certain financial data for the three quarters ended September 30, 1998 have been prepared on a "combined basis," reflecting operations of the "Predecessor predecessor - parent Company" for the one week ended January 7, 1998 plus operations of the "Successor 1. SuccessoR - A language for distributed computing derived from SR. ["SuccessoR: Refinements to SR", R.A. Olsson et al, TR 84-3, U Arizona 1984]. 2. successor - daughter Company" for the 38-week period ended September 30, 1998. For the three quarters ended September 30, 1998, the Company reported revenue of $1.33 billion compared with $1.39 billion in the prior year period, primarily reflecting fewer reporting days in the 1998 period because of a change in the Company's fiscal year end as of January 1, 1997, as well as fewer company-owned restaurants versus the prior year period. The loss from continuing operations for the 38 weeks ended September 30, 1998 was $131.4 million, or $3.28 per share, which reflected estimated aggregate net charges of $128.7 million, or $3.22 per share, consisting of noncash amortization and depreciation items related to the implementation of fresh start reporting. Excluding these fresh start items, the loss from continuing operations for the 38-week period would have been $2.7 million, or $0.06 per share. Concept Results Same-store sales for Denny's company-owned and franchised restaurants increased 2.6 percent during the third quarter. Denny's EBITDA increased to $52.9 million compared with $48.7 million in the prior year quarter, with the increase resulting from same-store sales increases and improvements in actuarial ac·tu·ar·y n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin results for workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. and other insurance costs. The Denny's system continued a strong new unit development pace, opening 29 new restaurants during the quarter and 65 new restaurants for the year-to-date period. Thirteen of the restaurants opened during the quarter and year-to-date period were acquired units. El Pollo Loco recorded an increase in EBITDA to $5.1 million from $4.8 million in the prior year quarter. The increase was primarily attributable attributable emanating from or pertaining to attribute. attributable proportion see attributable risk (below). attributable risk to an increase in total revenue and improvements in food costs. Same-store sales at company-owned units declined 1.2 percent versus the prior year quarter. The El Pollo Loco system opened three new restaurants during the quarter and opened 16 new restaurants for the year-to-date period. Coco's third-quarter EBITDA declined to $7.6 million from $7.9 million in the prior year quarter. The decrease in EBITDA resulted from a 1.6 percent decline in company-owned same-store sales. The Coco's system opened five new restaurants during the quarter and opened ten new restaurants for the year-to-date period. Thirteen company-owned restaurant units in Texas were disposed dis·pose v. dis·posed, dis·pos·ing, dis·pos·es v.tr. 1. To place or set in a particular order; arrange. 2. of during the quarter. Carrows third-quarter EBITDA declined to $4.9 million from $6.1 million in the prior year quarter. The decrease in EBITDA resulted from a 2.1 percent decline in company-owned same-store sales. The Carrows system opened two new restaurants during the year-to-date period. On January 7, 1998 (the "Effective Date"), the Company emerged from Chapter 11 and commenced operations as Advantica Restaurant Group, Inc. with $1.1 billion less debt, a new board of directors and newly-issued common stock which began trading on the Nasdaq National Market on January 8, 1998. As of the Effective Date, the Company adopted fresh start reporting pursuant to the AICPA's Statement of Position 90-7. This method of accounting assumes that a new reporting entity is created, and accordingly, assets and liabilities are recorded at their estimated fair values, and the Company's accumulated ac·cu·mu·late v. ac·cu·mu·lat·ed, ac·cu·mu·lat·ing, ac·cu·mu·lates v.tr. To gather or pile up; amass. See Synonyms at gather. v.intr. To mount up; increase. deficit is eliminated. All financial statements for periods subsequent to the Effective Date are referred to as "Successor Company" and the related operating results are presented separately from those of the Company prior to the Effective Date due to the significant impact of fresh start reporting adjustments on the comparability of the periods. The most individually significant item associated with fresh start reporting which affects comparability of the operating results of the Company is the "amortization of excess reorganization value." The related asset, which totaled $717.7 million, is being amortized over a five-year period, resulting in a significant noncash charge Noncash charge A cost, such as depreciation, depletion, and amortization, that does not involve any cash outflow. That is, this is treated as an accounting expense -- not a real expense that demands cash. to earnings. Advantica Restaurant Group, Inc. is one of the largest restaurant companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , operating approximately 2,600 moderately-priced restaurants in the mid-scale and quick-service dining segments. Advantica owns and operates the Denny's, Carrows, Coco's and El Pollo Loco restaurant brands. Advantica news releases, links to SEC filings and other financial information are also available, at no charge, through Business Wire's Corporate News on the Net web site at: http://www.businesswire.com/cnn/dine.htm. Certain matters discussed in this release constitute forward looking statements and involve risks, uncertainties, and other factors that may cause the actual performance of Advantica Restaurant Group, Inc., its subsidiaries and underlying concepts to be materially different from the performance indicated or implied Inferred from circumstances; known indirectly. In its legal application, the term implied is used in contrast with express, where the intention regarding the subject matter is explicitly and directly indicated. by such statements. Such factors include, among others: the competitive pressures from within the restaurant industry; the level of success of the Company's operating initiatives and advertising and promotional efforts, including the initiatives and efforts specifically mentioned above; the ability of the Company to mitigate mit·i·gate v. To moderate in force or intensity. mit  i·ga tion n. the impact of the year
2000 issue successfully; adverse publicity; changes in business strategy
or development plans; terms and availability of capital; regional
weather conditions; overall changes in the general economy, particularly
at the retail level; and other factors from time to time set forth in
the Company's SEC reports, including but not limited to the
discussion in Management's Discussion and Analysis Management's discussion and analysis (MD&A)A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 1997 (and in the Company's subsequent quarterly reports on Form 10-Q Form 10-Q See 10-Q. ). -0-
ADVANTICA RESTAURANT GROUP, INC.
Statements of Consolidated Operations
(Unaudited)
Successor Predecessor
Company Company
Quarter Quarter
Ended Ended
(in thousands, except per 9/30/98 10/1/97
amounts)
Net company sales $ 438,448 $ 441,704
Franchise and licensing revenue 23,225 21,255
Operating revenue 461,673 462,959
Operating expenses:
Product costs 124,161 124,395
Payroll and benefits 167,600 171,847
Amortization of excess
reorganization value 34,475 ---
Depreciation and amortization
of property 30,506 23,104
Amortization of other intangibles 4,587 3,703
Utilities expense 19,487 19,557
Other 88,403 86,073
469,219 428,679
Operating income (loss) (7,546) 34,280
Other charges:
Interest and debt expense, net 28,485 34,984
Other, net 9 836
Loss before reorganization items
and taxes (36,040) (1,540)
Reorganization items --- 11,613
Loss before taxes (36,040) (13,153)
Provision for income taxes 500 320
Loss from continuing operations (36,540) (13,473)
Loss from discontinued operations --- (4,286)
Net loss (36,540) (17,759)
Dividends on preferred stock --- (3,543)
Net loss applicable to common
shareholders $ (36,540) $ (21,302)
Basic and diluted loss per share:
Loss from continuing
operations $ (0.91) $ (0.40)
Loss from discontinued
operations --- (0.10)
Net loss $ (0.91) $ (0.50)
Average outstanding and
equivalent shares 40,010 42,434
ADVANTICA RESTAURANT GROUP, INC.
Statements of Consolidated Operations
(Unaudited)
Successor Company Predecessor Company
38 Weeks One Week Three Qtrs
Ended Ended Ended
(in thousands, except 9/30/98 1/7/98 10/1/97
per share amounts)
Net company sales $ 1,233,482 $ 31,986 $ 1,328,535
Franchise and licensing
revenue 64,348 1,602 60,720
Operating revenue 1,297,830 33,588 1,389,255
Operating expenses:
Product costs 340,424 8,638 371,832
Payroll and benefits 491,054 13,803 532,198
Amortization of excess
reorganization value 106,777 --- ---
Depreciation and
amortization of property 89,014 1,660 62,439
Amortization of other
intangibles 10,648 24 8,035
Utilities expense 53,645 1,039 56,084
Other 248,917 (236) 269,939
1,340,479 24,928 1,300,527
Operating income (loss) (42,649) 8,660 88,728
Other charges (credits):
Interest and debt
expense, net 86,109 2,669 133,237
Other, net 1,145 (313) 746
Loss before reorganization
items and taxes (129,903) 6,304 (45,255)
Reorganization items --- (714,207) 23,549
Income (loss) before taxes (129,903) 720,511 (68,804)
Provision for (benefit from)
income taxes 1,500 (13,829) 1,674
Income (loss) from
continuing operations (131,403) 734,340 (70,478)
Discontinued operations:
Reorganization items
of discontinued ops. --- 48,887 ---
Loss from operations of
discontinued ops. (1,507) (1,154) (31,280)
Income (loss) before
extraordinary item (132,910) 782,073 (101,758)
Extraordinary item --- (612,845) ---
Net income (loss) (132,910) 1,394,918 (101,758)
Dividends on preferred stock --- (273) (10,631)
Net income (loss) applicable
to common shareholders $ (132,910) $ 1,394,645 $ (112,389)
Basic income (loss)
per share:
Income (loss) from continuing
operations $ (3.28) $ 17.30 $ (1.91)
Income (loss) from
discontinued operations (0.04) 1.13 (0.74)
Extraordinary item --- 14.44 ---
Net income (loss) $ (3.32) $ 32.87 $ (2.65)
Average outstanding and
equivalent shares 40,005 42,434 42,434
ADVANTICA RESTAURANT GROUP, INC.
Statements of Consolidated Operations
(Unaudited)
Successor Company Predecessor Company
38 Weeks One Week Three Qtrs
Ended Ended Ended
9/30/98 1/7/98 10/1/97
10/1/97
Diluted income (loss) per share:
Income (loss) from continuing
operations $ (3.28) $ 13.32 $ (1.91)
Income (loss) from discontinued
operations (0.04) 0.87 (0.74)
Extraordinary item --- 11.11 ---
Net income (loss) $ (3.32) $ 25.30 $ (2.65)
Average outstanding and
equivalent shares 40,005 55,132 42,434
ADVANTICA RESTAURANT GROUP, INC.
Consolidated Balance Sheets
(Unaudited)
Successor Predecessor
Company Company
(in thousands) 9/30/98 12/31/97
ASSETS
Current Assets
Cash and cash equivalents $ 259,786 $ 54,079
Restricted investments
securing in-substance
defeased debt 19,680 ---
Other 56,614 426,257
336,080 480,336
Property and equipment, net 700,972 625,837
Reorganization value in
excess of amounts
allocable to identified
assets, net 610,907 ---
Restricted investments
securing in-substance
defeased debt 168,103 ---
Other assets 280,739 304,896
Total Assets $ 2,096,801 $ 1,411,069
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
Current Liabilities
Current maturities of notes
and debentures $ 32,730 $ 37,572
Current maturities of capital
lease obligations 18,020 19,398
Current maturities of in-substance
defeased debt 12,165 ---
Accounts payable and
other accrued liabilities 332,188 302,862
395,103 359,832
Long-Term Liabilities
Notes and debentures, less
current maturities 958,734 510,533
Capital lease obligations,
less current maturities 73,040 83,642
In-substance defeased debt,
less current maturities 174,603 ---
Other 210,815 207,112
1,417,192 801,287
Liabilities subject to compromise --- 1,612,400
Total Liabilities 1,812,295 2,773,519
Shareholders' Equity (Deficit) 284,506 (1,362,450)
Total Liabilities and
Shareholders' Equity (Deficit) $ 2,096,801 $ 1,411,069
ADVANTICA RESTAURANT GROUP, INC.
Results by Operating Entity
(Unaudited)
Quarter Ended Three Quarters Ended
(in millions)
9/30/98 10/1/97 9/30/98 10/1/97
Revenue:
Denny's $ 315.0 $ 308.1 $ 894.5 $ 919.6
Coco's 65.0 69.3 196.0 209.8
Carrows 47.1 52.5 141.4 161.4
El Pollo Loco 34.6 33.1 99.5 98.5
Total revenue $ 461.7 $ 463.0 $1,331.4 $1,389.3
EBITDA (a):
Denny's $ 52.9 $ 48.7 $ 138.3 $ 125.8
Coco's 7.6 7.9 26.0 25.8
Carrows 4.9 6.1 15.7 18.8
El Pollo Loco 5.1 4.8 16.6 14.5
Corporate and other (8.5) (6.4) (22.5) (25.7)
Total EBITDA $ 62.0 $ 61.1 $ 174.1 $ 159.2
Refranchising gains:
Denny's $ 0.2 $ 0.1 $ 7.9 $ 0.5
Coco's --- --- --- ---
Carrows --- --- --- ---
El Pollo Loco --- --- 0.4 0.2
Total gains $ 0.2 $ 0.1 $ 8.3 $ 0.7
(a) EBITDA is defined by the Company as operating income before
depreciation, amortization and charges for restructuring and
impairment. EBITDA includes refranchising gains.
ADVANTICA RESTAURANT GROUP, INC.
Statistical Data by Operating Entity
(Unaudited)
Quarter
Same-Store Sales (company-owned) Ended
(increase/(decrease) vs. prior year) 9/30/98
Denny's 2.6%
Coco's (1.6%)
Carrows (2.1%)
El Pollo Loco (1.2%)
Quarter Quarter
Average Guest Check (company-owned) Ended Ended Increase/
(same-store basis) 9/30/98 10/1/97 (Decrease)
Denny's $5.84 $5.60 4.3%
Coco's $6.73 $6.79 (0.9%)
Carrows $6.38 $6.52 (2.1%)
El Pollo Loco $6.95 $6.69 3.9%
Quarter Quarter
Average Unit Sales Ended Ended Increase/
(in thousands) 9/30/98 10/1/97 (Decrease)
Denny's
Company-owned $338.5 $326.2 3.8%
Franchised $294.4 $284.5 3.5%
Coco's
Company-owned $369.9 $366.5 0.9%
Franchised $340.5 NM NM
Carrows
Company-owned $343.0 $339.5 1.0%
Franchised $274.4 NM NM
El Pollo Loco
Company-owned $305.2 $309.2 (1.3%)
Franchised $220.2 $224.5 (1.9%)
NM = Not Meaningful
ADVANTICA RESTAURANT GROUP, INC.
Statistical Data by Operating Entity
(Unaudited)
Three Quarters
Same-Store Sales (company-owned) Ended
(increase/(decrease) vs. prior year) 9/30/98
Denny's 0.3%
Coco's (0.8%)
Carrows (1.6%)
El Pollo Loco (2.0%)
Three Three
Quarters Quarters
Average Guest Check (company-owned) Ended Ended Increase/
(same-store basis) 9/30/98 10/1/97 (Decrease)
Denny's $5.81 $5.51 5.4%
Coco's $6.96 $6.70 3.9%
Carrows $6.69 $6.46 3.6%
El Pollo Loco $6.90 $6.69 3.1%
Three Three
Quarters Quarters
Average Unit Sales Ended Ended Increase/
(in thousands) 9/30/98 10/1/97 (Decrease)
Denny's
Company-owned $962.2 $978.1 (1.6%)
Franchised $822.2 $827.0 (0.6%)
Coco's
Company-owned $1,115.6 $1,119.4 (0.3%)
Franchised $1,005.0 NM NM
Carrows
Company-owned $1,024.0 $1,028.4 (0.4%)
Franchised $850.2 NM NM
El Pollo Loco
Company-owned $883.2 $921.0 (4.1%)
Franchised $636.6 $667.7 (4.7%)
NM = Not Meaningful
ADVANTICA RESTAURANT GROUP, INC.
Statistical Data by Operating Entity
(Unaudited)
Restaurant Units 9/30/98 10/1/97
Denny's
Company-owned 887 887
Franchised 794 737
Licensed 18 22
1,699 1,646
Coco's
Company-owned 160 186
Franchised 19 8
Licensed 299 292
478 486
Carrows
Company-owned 136 153
Franchised 16 3
152 156
El Pollo Loco
Company-owned 100 97
Franchised 157 143
Licensed 4 4
261 244
Total 2,590 2,532
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