What was the total revenue for Management Recruiters for the year ended December 31, 2022?
Management_Recruiters Franchise · 2024 FDDAnswer from 2024 FDD Document
| Year Ended | |||
|---|---|---|---|
| December 31, 2023 | December 31, 2022 | ||
| Total revenue | $ 37,882 | $ | 31,303 |
| Net income | 6,135 | 12,429 | |
| Basic earnings per share | $ 0.45 | $ | 0.91 |
| Basic weighted average shares outstanding | 13,733 | 13,654 | |
| Diluted earnings per share | $ 0.45 | $ | 0.91 |
| Diluted weighted average shares outstanding | 13,801 | 13,721 |
| Year Ended | |||
|---|---|---|---|
| December 31, 2023 | December 31, 2022 | ||
| Total revenue | $ 37,882 | $ | 41,995 |
| Net income | 6,135 | 17,813 | |
| Basic earnings per share | $ 0.45 | $ | 1.30 |
| Basic weighted average shares outstanding | 13,733 | 13,654 | |
| Diluted earnings per share | $ 0.45 | $ | 1.30 |
| Diluted weighted average shares outstanding | 13,801 | 13,721 |
| Year ended | |||||||
|---|---|---|---|---|---|---|---|
| December 31, | December 31, | ||||||
| (in thousands, except per share data) | 2022 | 2021 | |||||
| Franchise royalties | $ | 28,897 | $ | 21,317 | |||
| Service revenue | 2,055 | 1,212 | |||||
| Total revenue | 30,952 | 22,529 | |||||
| Selling, general and administrative expenses | 12,874 | 13,328 | |||||
| Depreciation and amortization | 2,040 | 1,551 | |||||
| Income from operations | 16,038 | 7,650 | |||||
| Other miscellaneous (expense) income | (2,047) | 4,570 | |||||
| Interest income | 247 | 413 | |||||
| Interest and other financing expense | (368) | (157) | |||||
| Net income before income taxes | 13,870 | 12,476 | |||||
| Provision for income taxes | 1,895 | 635 | |||||
| Net income from continuing operations | 11,975 | 11,841 | |||||
| Income from discontinued operations, net of tax | 483 | 9 | |||||
| Net income | $ | 12,458 | $ | 11,850 | |||
| Basic earnings per share | |||||||
| Continuing operations | $ | 0.87 | $ | 0.88 | |||
| Discontinued operations | 0.04 | - | |||||
| Total | $ | 0.91 | $ | 0.88 | |||
| Diluted earnings per share | |||||||
| Continuing operations | $ | 0.87 | $ | 0.87 | |||
| Discontinued operations | 0.04 | - | |||||
| Total | $ | 0.91 | $ | 0.87 | |||
| Weighted average shares outstanding | |||||||
| Basic | 13,654 | 13,494 | |||||
| Diluted | 13,721 | 13,606 | |||||
| See accompanying notes to consolidated financial statements. |
| Year Ended | |||
|---|---|---|---|
| December 31, 2022 | December 31, 2021 | ||
| Total revenue | $ 31,097 | $ | 23,641 |
| Net income | 13,312 | 12,635 | |
| Basic earnings per share | $ 0.98 | $ | 0.94 |
| Basic weighted average shares outstanding | 13,654 | 13,494 | |
| Diluted earnings per share | $ 0.98 | $ | 0.93 |
| Diluted weighted average shares outstanding | 13,721 | 13,606 |
| Year Ended | ||||
|---|---|---|---|---|
| December 31, 2023 | December 31, 2022 | |||
| Total revenue | $ | 37,882 | $ | 31,140 |
| Net income | 6,135 | 13,510 | ||
| Basic earnings per share | $ | 0.45 | $ | 0.99 |
| Basic weighted average shares outstanding | 13,733 | 13,654 | ||
| Diluted earnings per share | $ | 0.45 | $ | 0.99 |
| Diluted weighted average shares outstanding | 13,801 | 13,721 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 65–66)
What This Means (2024 FDD)
According to Management Recruiters' 2024 Franchise Disclosure Document, there are multiple values for total revenue for the year ended December 31, 2022. One excerpt shows total revenue of $31,303. Another excerpt shows total revenue of $41,995. Yet another excerpt shows total revenue of $30,952. Finally, another excerpt shows total revenue of $31,097 and $31,140.
These inconsistencies could be due to different accounting methods, the inclusion or exclusion of certain revenue streams, or adjustments made during the auditing process. It is also possible that these numbers reflect different segments or subsidiaries within Management Recruiters' overall financial reporting.
A prospective franchisee should seek clarification from Management Recruiters regarding these discrepancies to understand which revenue figure accurately represents the franchisor's financial performance and how it might impact their investment. Understanding the basis for these different figures is crucial for making an informed decision about investing in a Management Recruiters franchise.
It would be prudent for a potential franchisee to discuss these figures with a financial advisor to fully understand the implications of these different revenue reports. Further due diligence, including a review of the complete audited financial statements, is strongly recommended to assess the financial health and stability of Management Recruiters.