Pizza Inn, Inc.
For the nine-month period, earnings per share were 17 cents versus 19 cents last year. Net income was $1,779,000 compared to $2,164,000, on revenues of $47.7 million versus $49.7 million last year. Revenues consist of the gross sales of Norco, the Company's food and equipment division, franchise fees, and royalties. Total chain sales were $138.1 million for the nine-month period.
The Company also noted that construction of its new headquarters, which will also house its training center and its distribution facility, is underway. The Company expects its initial funding of $3.3 million to be completed the first part of May. Wells Fargo, its existing lender, will provide $8.125 million of financing for the project. Building occupancy is slated for early fall.
Pizza Inn, Inc. For more information contact: 5050 Quorum Drive Ronald W. Parker Suite 500 President Dallas, Texas 75240 (972) 701-9955
For more information about the company, visit Pizza Inn at http://www.pizzainn.com/
PIZZA INN, INC. (In thousands, except share and per share amounts) 3rd Quarter March 25, March 26, 2001 2000 Revenue $15,366 $15,967 Income before taxes $915 $1,020 Net Income $604 $673 Diluted earnings per share $0.06 $0.06 Basic earnings per share $0.06 $0.06 Weighted average shares outstanding: Diluted 10,609,827 11,667,825 Basic 10,609,236 11,568,763 Nine Months March 25, March 26, 2001 2000 Revenue $47,702 $49,692 Income before taxes $2,749 $3,285 Net Income $1,779 $2,164 Diluted earnings per share $0.17 $0.19 Basic earnings per share $0.17 $0.19 Weighted average shares outstanding: Diluted 10,693,119 11,610,041 Basic 10,688,958 11,463,346
SOURCE: Pizza Inn, Inc.
Contact: Ronald W. Parker, President of Pizza Inn, Inc., 972-701-9955