<PAGE> 1
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended June 29, 1995
-------------------------------------------------
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
------------------------ -------------------
Commission file number 1-11556
---------------------------------------------------------
UNI-MARTS, INC.
- - --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 25-1311379
- - --------------------------------------------------------------------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
477 East Beaver Avenue, State College, PA 16801-5690
- - --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(814) 234-6000
- - --------------------------------------------------------------------------------
(Registrant's telephone number, including area code)
- - --------------------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed since last
report.)
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days. Yes X No
----- -----
6,306,914 Common Shares were outstanding at June 29, 1995.
This Document Contains 19 Pages.
-1-
<PAGE> 2
<TABLE>
UNI-MARTS, INC. AND SUBSIDIARIES
INDEX
<CAPTION>
PART I. FINANCIAL INFORMATION
- - ------------------------------
PAGE(S)
<S> <C> <C>
Item 1. Financial Statements
Consolidated Balance Sheets -
June 29, 1995 and September 30, 1994 3-4
Consolidated Statements of Earnings -
Quarter Ended and Three Quarters Ended
June 29, 1995 and June 30, 1994 5
Consolidated Statements of Cash Flows -
Three Quarters Ended June 29, 1995 and
June 30, 1994 6-7
Notes to Consolidated Financial Statements 8-10
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations 11-13
PART II. OTHER INFORMATION
- - --------------------------
Item 6. Exhibits and Reports on Form 8-K 14
Exhibit Index 16
</TABLE>
-2-
<PAGE> 3
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
<TABLE>
UNI-MARTS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
<CAPTION>
June 29, September 30,
1995 1994
------------ -------------
(Unaudited)
ASSETS
<S> <C> <C>
CURRENT ASSETS:
Cash $ 6,148,329 $ 8,533,265
Marketable equity securities (at
cost in 1994, market $582,900) 572,166
Accounts receivable, less allowances
of $84,000 and $582,100 2,786,564 2,168,649
Inventories 16,380,928 15,108,457
Prepaid expenses and other 2,346,579 2,019,255
----------- -----------
TOTAL CURRENT ASSETS 27,662,400 28,401,792
PROPERTY, EQUIPMENT AND IMPROVEMENTS -
at cost, less accumulated depreciation and
amortization of $36,202,000 and $32,956,000 60,387,966 56,883,848
INTANGIBLE AND OTHER ASSETS 7,399,316 7,750,798
----------- -----------
TOTAL ASSETS $95,449,682 $93,036,438
=========== ===========
</TABLE>
-3-
<PAGE> 4
<TABLE>
UNI-MARTS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(CONTINUED)
<CAPTION>
June 29, September 30,
1995 1994
------------- -------------
(Unaudited)
LIABILITIES AND STOCKHOLDERS' EQUITY
<S> <C> <C>
CURRENT LIABILITIES:
Accounts payable $17,543,745 $14,440,175
Accrued expenses 6,267,059 6,030,584
Current maturities of long-term debt 3,264,692 6,851,260
Current obligations under capital leases 99,860 98,864
----------- -----------
TOTAL CURRENT LIABILITIES 27,175,356 27,420,883
LONG-TERM DEBT, less current maturities 32,425,338 32,121,021
OBLIGATIONS UNDER CAPITAL LEASES,
less current maturities 758,952 833,400
DEFERRED TAXES 2,910,500 2,806,800
DEFERRED INCOME AND OTHER LIABILITIES 1,030,817 1,051,311
STOCKHOLDERS' EQUITY:
Common Stock, par value $.10 a share:
Authorized 15,000,000 shares
Issued 7,007,971 and 6,996,498 shares,
respectively 700,797 699,650
Additional paid-in capital 23,000,288 22,897,804
Retained earnings 11,213,573 9,035,050
----------- -----------
34,914,658 32,632,504
Less Treasury Stock, at cost -
701,057 and 722,238 shares of
Common Stock, respectively ( 3,765,939) ( 3,829,481)
----------- -----------
31,148,719 28,803,023
----------- -----------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $95,449,682 $93,036,438
=========== ===========
</TABLE>
See notes to consolidated financial statements
-4-
<PAGE> 5
<TABLE>
UNI-MARTS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
(Unaudited)
<CAPTION>
QUARTER ENDED THREE QUARTERS ENDED
June 29, June 30, June 29, June 30,
1995 1994 1995 1994
----------- ----------- ------------ ------------
<S> <C> <C> <C> <C>
REVENUES:
Merchandise sales $46,478,742 $47,632,347 $130,250,660 $133,357,902
Petroleum sales 37,049,061 32,199,863 105,096,457 95,761,410
Dairy sales 0 0 0 10,494,832
Other income 1,397,688 631,276 2,634,004 1,725,142
----------- ----------- ------------ ------------
84,925,491 80,463,486 237,981,121 241,339,286
----------- ----------- ------------ ------------
COSTS AND EXPENSES:
Cost of sales 63,175,948 59,927,002 174,242,270 176,757,210
Selling 16,444,032 15,919,520 47,854,894 49,537,884
General and administrative 1,830,613 1,515,100 5,100,473 4,925,386
Depreciation and amortization 1,385,979 1,328,393 4,068,916 4,334,455
Interest 796,202 792,355 2,416,088 2,467,212
----------- ----------- ------------ ------------
83,632,774 79,482,370 233,682,641 238,022,147
----------- ----------- ------------ ------------
EARNINGS BEFORE INCOME TAXES 1,292,717 981,116 4,298,480 3,317,139
INCOME TAXES 499,509 287,186 1,600,509 937,500
----------- ----------- ------------ ------------
NET EARNINGS $ 793,208 $ 693,930 $ 2,697,971 $ 2,379,639
=========== =========== ============ ============
EARNINGS PER SHARE $ 0.13 $ 0.10 $ 0.43 $ 0.35
=========== =========== ============ ============
DIVIDENDS PER SHARE $ 0.0275 $ 0.0250 $ 0.0825 $ 0.0750
=========== =========== ============ ============
WEIGHTED AVERAGE NUMBER OF
COMMON SHARES OUTSTANDING 6,303,359 6,813,855 6,291,147 6,871,001
=========== =========== ============ ============
</TABLE>
See notes to consolidated financial statements
-5-
<PAGE> 6
<TABLE>
UNI-MARTS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
<CAPTION>
THREE QUARTERS ENDED
June 29, June 30,
1995 1994
-------------- --------------
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash received from customers and others $236,977,201 $242,710,190
Cash paid to suppliers and employees ( 224,484,859) ( 230,957,238)
Dividends and interest received 200,190 156,352
Interest paid ( 2,759,625) ( 2,901,630)
Income taxes paid ( 1,835,009) ( 1,637,300)
------------ ------------
NET CASH PROVIDED BY OPERATING ACTIVITIES 8,097,898 7,370,374
CASH FLOWS FROM INVESTING ACTIVITIES:
Receipts from sale of capital assets 290,328 3,824,940
Purchase of property, equipment and
improvements ( 7,402,640) ( 2,414,064)
Net receipts for sales and purchases
of marketable securities 529,026 254,668
Additional borrowing - note receivable
from officer ( 60,157)
Net cash advanced for intangible
and other assets ( 39,272) ( 56,794)
------------ ------------
NET CASH (USED IN) PROVIDED BY
INVESTING ACTIVITIES ( 6,622,558) 1,548,593
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments under revolving credit agreement ( 2,000,000)
Principal payments on debt ( 3,355,703) ( 6,123,703)
Proceeds from issuance of common stock 14,875 57,750
Dividends paid to stockholders ( 519,448) ( 515,756)
------------ ------------
NET CASH USED BY FINANCING ACTIVITIES ( 3,860,276) ( 8,581,709)
------------ ------------
NET (DECREASE) INCREASE IN CASH ( 2,384,936) 337,258
CASH:
Beginning of period 8,533,265 9,779,105
------------ ------------
End of period $ 6,148,329 $ 10,116,363
============ ============
</TABLE>
-6-
<PAGE> 7
<TABLE>
UNI-MARTS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(CONTINUED)
(Unaudited)
<CAPTION>
THREE QUARTERS ENDED
June 29, June 30,
1995 1994
------------ ------------
<S> <C> <C>
RECONCILIATION OF NET EARNINGS TO NET
CASH PROVIDED BY OPERATING ACTIVITIES:
NET EARNINGS $ 2,697,971 $ 2,379,639
ADJUSTMENTS TO RECONCILE NET EARNINGS TO
NET CASH PROVIDED BY OPERATING ACTIVITIES:
Depreciation and amortization 4,068,916 4,334,455
Loss (gain) on sale of marketable securities 9,625 ( 118,214)
Loss on sale of capital assets and other 82,330 390,878
Change in assets and liabilities:
(Increase) decrease in:
Accounts receivable ( 584,400) 1,490,177
Inventories ( 1,272,471) 533,463
Prepaid expenses 10,876 ( 145,881)
Increase (decrease) in:
Accounts payable and accrued expenses 3,340,045 ( 746,801)
Deferred income taxes and other
liabilities ( 254,994) ( 747,342)
------------ ------------
TOTAL ADJUSTMENTS TO NET EARNINGS 5,399,927 4,990,735
------------ ------------
NET CASH PROVIDED BY
OPERATING ACTIVITIES $ 8,097,898 $ 7,370,374
============ ============
</TABLE>
See notes to consolidated financial statements
-7-
<PAGE> 8
UNI-MARTS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
A. FINANCIAL STATEMENTS:
The consolidated balance sheet as of June 29, 1995, the consolidated
statements of earnings for the quarter and three quarters ended June 29,
1995 and June 30, 1994 and the consolidated statements of cash flows for the
three quarters ended June 29, 1995 and June 30, 1994 have been prepared by
Uni-Marts, Inc. (the "Company") without audit. In the opinion of
management, all adjustments (which include only normal recurring
adjustments) necessary to present fairly the financial position of the
Company at June 29, 1995 and the results of operations and cash flows for
all periods presented have been made.
Certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted accounting
principles have been condensed or omitted. It is suggested that these
consolidated financial statements be read in conjunction with the financial
statements and notes thereto included in the Company's Annual Report on Form
10-K for the fiscal year ended September 30, 1994. The results of
operations for the interim periods are not necessarily indicative of the
results to be obtained for the full year.
B. INTANGIBLE AND OTHER ASSETS:
Intangible and other assets consist of the following:
<TABLE>
<CAPTION>
June 29, September 30,
1995 1994
----------- -------------
<S> <C> <C>
Goodwill $ 6,498,671 $ 6,498,671
Lease acquisition costs 1,674,483 1,674,483
Non-competition agreements 1,213,040 1,213,040
Other 1,714,087 1,647,520
----------- -----------
11,100,281 11,033,714
Less accumulated amortization 3,700,965 3,282,916
----------- -----------
$ 7,399,316 $ 7,750,798
=========== ===========
</TABLE>
Goodwill represents the excess of costs over the fair value of net assets
acquired in business combinations and is amortized on a straight-line basis
over periods of 5 to 40 years. Lease acquisition costs are the bargain
element of acquired leases and are being amortized on a straight-line basis
over the related lease terms. Non-competition agreements are amortized
over the terms of the particular agreements.
-8-
<PAGE> 9
C. INTERIM CREDIT FACILITIES:
The Company has a $13.5 million revolving credit agreement with a bank group
at the bank's prime rate or a fixed rate option at the Company's election,
with a maximum of $3.5 million available for issuance of letters of credit.
The revolving credit facility is committed for a two-year period expiring
February 28, 1997 or a later date as approved by the bank group. At June
29, 1995, borrowings of $6.0 million and letters of credit of $2.7 million
were outstanding under the agreement.
D. LONG-TERM DEBT:
<TABLE>
<CAPTION>
June 29, September 30,
1995 1994
----------- -------------
<S> <C> <C>
Term Loan. Interest is paid quarterly.
Principal on the note will be repaid
in 16 quarterly installments beginning
October 31, 1997. The interest rate was
8.125% at June 29, 1995. $16,741,488 $16,805,316
Senior Notes of the Company. Interest
is paid in semiannual installments
at a blended rate of 10.50%. Principal
on the notes will be repaid in seven
semiannual installments. 10,636,735 13,703,402
Revolving Credit Agreement. Interest is
paid quarterly. At June 29, 1995, the
interest rate was 9.000%. (See Note C) 6,000,000 6,000,000
Mortgage Loans Payable. Paid in monthly
installments expiring in years 1997
through 2004 with interest ranging
from the bank's prime rate to the
bank's prime rate plus one-half percent.
The blended interest was 9.313% at June,
29, 1995. 2,311,807 2,460,328
Various Equipment Financing. Repaid in
fiscal 1995. 3,235
----------- -----------
35,690,030 38,972,281
Less current maturities 3,264,692 6,851,260
----------- -----------
$32,425,338 $32,121,021
=========== ===========
</TABLE>
The mortgage loans are collateralized by $6,755,600 of property, at cost.
-9-
<PAGE> 10
Aggregate maturities of long-term debt during the next five years, including
payments due in connection with the senior notes and the term loan, are as
follows:
September 30, 1995 $ 50,000
1996 3,265,000
1997 10,129,000
1998 7,433,000
1999 6,060,000
-----------
$26,937,000
===========
Certain of the Company's debt agreements contain covenants which provide for the
maintenance of minimum working capital and net worth as well as limitations on
future indebtedness, sales and leasebacks and dispositions of assets. These
agreements may restrict the Company's ability to declare and pay dividends on
common stock. The amount of retained earnings available for such dividends at
June 29, 1995 was $4,406,100.
-10-
<PAGE> 11
<TABLE>
ITEM 2.
UNI-MARTS, INC. AND SUBSIDIARIES
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Set forth below are selected unaudited consolidated financial data of the
Company for the periods indicated:
<CAPTION>
QUARTER ENDED THREE QUARTERS ENDED
June 29, June 30, June 29, June 30,
1995 1994 1995 1994
----------- ----------- ------------ ------------
<S> <C> <C> <C> <C>
STATEMENTS OF EARNINGS DATA:
Sales and other income by the
Company and its franchisees:
Merchandise sales $46,478,742 $47,632,347 $130,250,660 $133,357,902
Petroleum sales 37,049,061 32,199,863 105,096,457 95,761,410
Dairy sales 0 0 0 10,494,832
Other income 1,397,688 631,276 2,634,004 1,725,142
----------- ----------- ------------ ------------
Total 84,925,491 80,463,486 237,981,121 241,339,286
Cost of sales 63,175,948 59,927,002 174,242,270 176,757,210
----------- ----------- ------------ ------------
Gross profit 21,749,543 20,536,484 63,738,851 64,582,076
Selling 16,444,032 15,919,520 47,854,894 49,537,884
General and administrative 1,830,613 1,515,100 5,100,473 4,925,386
Depreciation and amortization 1,385,979 1,328,393 4,068,916 4,334,455
Interest 796,202 792,355 2,416,088 2,467,212
----------- ----------- ------------ ------------
Earnings before income taxes 1,292,717 981,116 4,298,480 3,317,139
Income taxes 499,509 287,186 1,600,509 937,500
----------- ----------- ------------ ------------
Net earnings $ 793,208 $ 693,930 $ 2,697,971 $ 2,379,639
=========== =========== ============ ============
Earnings per share $ 0.13 $ 0.10 $ 0.43 $ 0.35
=========== =========== ============ ============
OPERATING DATA (CONVENIENCE STORES ONLY):
Average, per store, for stores open two
full comparable periods:
Merchandise sales $ 116,357 $ 115,576 $ 323,805 $ 322,352
Petroleum sales $ 107,575 $ 108,615 $ 315,927 $ 315,564
Gallons of petroleum sold 118,798 116,728 344,436 346,360
Total gallons of petroleum sold 35,434,811 34,672,403 102,498,680 103,427,393
Gross profit per gallon
of petroleum $ 0.101 $ 0.093 $ 0.126 $ 0.117
Stores at beginning of period 414 431 417 444
Stores added 2 3
Stores closed 2 4 15
Stores at end of period 416 429 416 429
Company-operated stores 374 381 374 381
Franchisee-operated stores 42 48 42 48
Locations with self-service
gasoline 300 301 300 301
</TABLE>
-11-
<PAGE> 12
RESULTS OF OPERATIONS:
Matters discussed below should be read in conjunction with "Statements of
Earnings Data" and "Operating Data (Convenience Stores Only)" on the preceding
page.
QUARTERS ENDED JUNE 29, 1995 AND JUNE 30, 1994
- - ----------------------------------------------
Total revenues for the quarter ended June 29, 1995 were $84,925,000, an increase
of $4,462,000, or 5.6%, over total revenues in the same quarter of 1994.
Although merchandise sales at comparable stores increased slightly, total
merchandise sales declined by $1,154,000, or 2.4%, due primarily to fewer stores
in operation in 1995. Petroleum sales increased by $4,849,000, or 15.1%, due
primarily to higher retail prices. Other income increased by $766,000 as a
result of increased promotional activities.
Gross profits on merchandise sales for the quarter ended June 29, 1995 increased
by $116,000 as a result of higher gross profit rates resulting from increased
sales of fast food and other higher profit merchandise in the current year.
Gross profits on petroleum sales increased by $325,000, or 9.7%, due both to an
increase in gallons sold and gross profit per gallon.
Selling expenses for the quarter ended June 29, 1995 increased by $525,000, or
3.3%, primarily due to increased staffing for fast-food outlets and other labor-
related costs. General and administrative expenses increased by $316,000 due
primarily to increased salaries and incentive programs. Depreciation and
amortization increased slightly due to increased capital expenditures.
Earnings before income taxes increased by $312,000 in the third quarter of
fiscal year 1995 compared to 1994. Income taxes increased by $212,000 due to
higher pre-tax earnings, higher state income taxes and lower federal tax
credits. Net earnings increased by $99,000, or 14.3%.
THREE QUARTERS ENDED JUNE 29, 1995 AND JUNE 30, 1994
- - ----------------------------------------------------
Total revenues in the first three quarters of fiscal year 1995 have decreased by
$3,358,000, or 1.4%, in comparison to the same quarters of fiscal year 1994,
primarily as a result of the sale of the Company's dairy operation on April 1,
1994. There were no revenues from the dairy operations in 1995 compared to
$10,495,000 in 1994. Merchandise sales also decreased by $3,107,000, or 2.3%,
due to fewer stores in operation. Merchandise sales at stores open during both
periods increased slightly. Petroleum sales increased $9,335,000, or 9.7%, as a
result of higher retail selling prices. Other income increased by $909,000 due
primarily to increased promotional activities.
Gross profits on merchandise sales increased by $588,000, or 1.2%, due to
increased sales of higher-profit merchandise, primarily fast foods. Gross
profits on petroleum sales increased by $774,000 due to increased gross profits
per gallon. There were no gross profits on dairy sales in 1995 compared to
$3,112,000 in 1994.
Selling expense declined by $1,683,000, and depreciation and amortization
declined by $266,000, both primarily due to expense reductions resulting from
the April 1994 dairy operation sale. General and administrative expenses
-12-
<PAGE> 13
increased by $175,000, or 3.6%, due primarily to increased salaries and
incentive programs. Interest expense decreased by $51,000 due primarily
to lower borrowing levels partially offset by higher interest rates.
Earnings before income taxes increased by $981,000. Income taxes increased by
$663,000 due to higher pre-tax earnings, higher state income taxes, lower
federal tax credits and nonrecurring income tax benefits in 1994 related to the
sale of the Company's dairy operation. Net earnings increased by $318,000, or
13.4%.
LIQUIDITY AND CAPITAL RESOURCES:
Most of the Company's sales are for cash and its inventory turns over rapidly.
As a result, the Company's daily operations do not require large amounts of
working capital. From time to time, the Company utilizes substantial portions
of its cash and interim credit facilities to acquire and construct new stores.
Capital requirements for the balance of fiscal year 1995 include debt and
capital lease payments of approximately $74,000 and capital expenditures of
approximately $900,000. The Company anticipates that cash presently available
and cash generated from operations will be sufficient to fulfill its cash
requirements.
-13-
<PAGE> 14
PART II. OTHER INFORMATION
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) EXHIBITS
11 Statement regarding computation per share earnings.
27 Financial Data Schedule
(b) REPORTS ON FORM 8-K
The Company did not file any reports on Form 8-K
during the quarter ended June 29, 1995.
-14-
<PAGE> 15
SIGNATURES
- - ----------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Uni-Marts, Inc.
-------------------------------------
(Registrant)
Date August 11, 1995 /S/ HENRY D. SAHAKIAN
--------------- -------------------------------------
Henry D. Sahakian
Chairman of the Board
(Principal Executive Officer)
Date August 11, 1995 /S/ J. KIRK GALLAHER
--------------- -------------------------------------
J. Kirk Gallaher
Executive Vice President, Director
and Chief Financial Officer
(Principal Accounting Officer)
(Principal Financial Officer)
-15-
<PAGE> 16
<TABLE>
UNI-MARTS, INC. AND SUBSIDIARIES
EXHIBIT INDEX
<CAPTION>
Number Description Page(s)
- - ------ ----------- -------
<S> <C> <C>
11 Statement regarding computation of per
share earnings. 17-18
27 Financial Data Schedule 19
</TABLE>
-16-
<PAGE> 17
<TABLE>
EXHIBIT 11
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
(A) Computation of the weighted average number of shares of common stock outstanding
for the periods indicated:
<CAPTION>
QUARTERS ENDED JUNE 29, 1995 AND JUNE 30, 1994
WEIGHTED
SHARES OF NUMBER OF DAYS NUMBER OF SHARES
COMMON STOCK OUTSTANDING SHARE DAYS OUTSTANDING
------------ -------------- ---------- -----------
<S> <C> <C> <C> <C>
Quarter Ended June 29, 1995
- - ---------------------------
March 31 - June 29 6,299,071 91 573,215,451
Shares Issued 7,843 Various 390,235
--------- -----------
6,306,914 573,605,686 6,303,359
========= =========== =========
Quarter Ended June 30, 1994
- - ----------------------------
April 1 - June 30 6,913,249 91 629,105,687
Treasury Stock Purchase ( 105,906) 91 ( 9,637,446)
Shares Issued 12,877 Various 592,587
--------- -----------
6,820,220 620,060,828 6,813,855
========= =========== =========
<CAPTION>
THREE QUARTERS ENDED JUNE 29, 1995 AND JUNE 30, 1994
WEIGHTED
SHARES OF NUMBER OF DAYS NUMBER OF SHARES
COMMON STOCK OUTSTANDING SHARE DAYS OUTSTANDING
------------ -------------- ---------- -----------
<S> <C> <C> <C> <C>
Period Ended June 29, 1995
- - ---------------------------
October 1 - June 29 6,274,260 272 1,706,598,808
Shares Issued 32,654 Various 4,593,219
--------- -------------
6,306,914 1,711,192,027 6,291,147
========= ============= =========
Period Ended June 30, 1994
- - --------------------------
October 1 - June 30 6,881,449 273 1,878,635,481
Treasury Stock Purchase ( 105,906) 91 ( 9,637,446)
Shares Issued 44,677 Various 6,785,176
--------- -------------
6,820,220 1,875,783,211 6,871,001
========= ============= =========
</TABLE>
-1-
<PAGE> 18
<TABLE>
(B) Computation of Earnings per Share:
Computation of earnings per share is net earnings divided by the weighted average
number of shares of common stock outstanding for the periods indicated:
<CAPTION>
QUARTER ENDED THREE QUARTERS ENDED
June 29, June 30, June 29, June 30,
1995 1994 1995 1994
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Net Earnings $ 793,208 $ 693,930 $2,697,971 $2,379,639
Weighted average number of
shares of common stock
outstanding 6,303,359 6,813,855 6,291,147 6,871,001
Earnings Per Share $ 0.13 $ 0.10 $ 0.43 $ 0.35
</TABLE>
-2-
<TABLE> <S> <C>
<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION FROM THE BALANCE SHEET
DATED JUNE 29, 1995 AND THE STATEMENT OF EARNINGS FOR THE THREE QUARTERS ENDED
JUNE 29, 1995 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<CIK> 0000805020
<NAME> UNI-MARTS, INC.
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> SEP-30-1995
<PERIOD-START> OCT-01-1994
<PERIOD-END> JUN-29-1995
<CASH> 6,148,329
<SECURITIES> 0
<RECEIVABLES> 2,870,564
<ALLOWANCES> 84,000
<INVENTORY> 16,380,928
<CURRENT-ASSETS> 27,662,400
<PP&E> 96,589,966
<DEPRECIATION> 36,202,000
<TOTAL-ASSETS> 95,449,682
<CURRENT-LIABILITIES> 27,175,356
<BONDS> 33,184,290
<COMMON> 700,797
0
0
<OTHER-SE> 30,447,922
<TOTAL-LIABILITY-AND-EQUITY> 95,449,682
<SALES> 235,347,117
<TOTAL-REVENUES> 237,981,121
<CGS> 174,242,270
<TOTAL-COSTS> 174,242,270
<OTHER-EXPENSES> 0
<LOSS-PROVISION> 33,700
<INTEREST-EXPENSE> 2,416,088
<INCOME-PRETAX> 4,298,480
<INCOME-TAX> 1,600,509
<INCOME-CONTINUING> 2,697,971
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 2,697,971
<EPS-PRIMARY> 0.43
<EPS-DILUTED> 0.43
</TABLE>
