News Releases

Pizza Inn Reports 3rd Quarter Earnings
PRNewswire
DALLAS

Pizza Inn, Inc. today reported earnings per share for its third quarter ended March 25 of 6 cents, versus 6 cents for the same quarter last year. Net income was $604,000 versus $673,000, on revenues of $15.4 million versus $16 million in the previous year. Total chain sales for the quarter were $45.1 million and comparable chainwide same-store sales finished down 2.3% for the third quarter, a slight improvement over year to date trends.

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