Company: BTBDW
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001477932-25-003689
Chunk: 51

Company: BT Brands, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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.0)  (630,829)  (19.8)UNREALIZED GAIN (LOSS) ON MARKETABLE SECURITIES  (44,024)  (1.4)  114,763   3.5 REALIZED INVESTMENT GAIN  95,038   2.9   -   - INTEREST EXPENSE  (21,554)  (.7)  (27,488)  (0.9)INTEREST AND DIVIDENDS   40,600   1.3   74,854   2.3 OTHER INCOME  26,587   .8   -   - EQUITY IN AFFILIATE LOSS  (134,300)  (4.2)  (94,500)  (3.0)INCOME TAX BENEFIT   -   -   117,500   3.7 NET LOSS $(329,849)  (10.2)% $(445,700)  (14.0)%

Sales:

Net sales for the first fiscal quarter of 2025 increased $40,926 to $3,231,073 from $3,190,147 in fiscal 2024. The increase resulted from sales increases at most of our locations, which were offset by the decline of approximately $507,000 resulting from the closing of two locations. Schnitzel Haus, which was acquired in the second quarter of 2024, had sales of approximately $500,000 in the first quarter of 2025, contributing to the overall sales increase.

Restaurant unit sales for Burger Time for the 13 weeks ranged from a low of approximately $121,000 to a high of approximately $295,000. The average sales for each Burger Time unit were approximately $217,000 in 2025, approximately $8,000 above the same period in 2024.

Our various restaurants each experience unique seasonal sales patterns. The first quarter is seasonally slower for BTND and PIE. PIE revenues are significantly higher in the second and third quarters of the year, resulting from tourist traffic in the Cape Cod area. In 2024, approximately 40% of sales occurred during the seasonally strong third quarter. PIE had sales of $451,000 in the first quarter of 2025, a decrease of 2%