News Releases

Pizza Inn, Inc. Reports Fiscal 2nd Quarter Rise in Earnings
PRNewswire-FirstCall
THE COLONY, Texas

Pizza Inn, Inc. today reported earnings per share for its second quarter ended December 23, of 6 cents, versus 5 cents for the same quarter last year. Net income was $567,000 versus $529,000, on revenues of $15.6 million versus $15.5 million in the previous year. For the six-month period, earnings per share were 11 cents versus 11 cents last year. Net income was $1,157,000 compared to $1,175,000 on revenues of $32.4 million versus $32.3 million last year. Comparable chainwide same-store sales finished up 1.7% for the second quarter.

Pizza Inn also announced that its annual franchisee owners' conference has been scheduled for March 23-25.

Pizza Inn, Inc. is the franchisor and food distributor for 432 Pizza Inn locations operating in the U.S. and other countries.

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)

                2nd Quarter
                                             December 23,      December 24,
                                                    2001              2000
  Revenue                                        $15,589           $15,520

  Income before taxes                            $   859           $   802

  Net Income                                     $   567           $   529

  Diluted earnings per share                     $  0.06           $  0.05

  Basic earnings per share                       $  0.06           $  0.05

  Weighted average shares outstanding:
     Diluted                                  10,067,741        10,725,224
     Basic                                    10,067,252        10,723,302

                Six Months
                                             December 23,      December 24,
                                                    2001              2000
  Revenue                                        $32,429           $32,336

  Income before taxes                            $ 1,753           $ 1,834

  Net Income                                     $ 1,157           $ 1,175

  Diluted earnings per share                     $  0.11           $  0.11

  Basic earnings per share                       $  0.11           $  0.11

  Weighted average shares outstanding:
     Diluted                                  10,133,601        10,734,765
     Basic                                    10,126,938        10,728,819


  For more information contact:
  Ronald W. Parker
  President
  (469) 384-5000

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SOURCE: Pizza Inn, Inc.

Contact: Ronald W. Parker, President of Pizza Inn, Inc.,
+1-469-384-5000