Pizza Inn Franchise Cheesed Off With Fall In Share Value
Posted on: 19/12/2006
Pizza Inn franchise has reported a net loss per share for its first quarter ended September 24, 2006 of ($0.10) versus a net loss of ($0.05) per share for the same quarter last year.
The quarter resulted in a net loss of ($1,061,000) versus a net loss of ($490,000) for the same quarter last year on revenues of $12.0 million and $12.9 million, respectively.
The Company's President and CEO, Tim Taft, commented, "We recently began outsourcing distribution services and passing on the cost savings to franchisees through lower product prices, which we believe will improve franchisee economics without compromising the Company's profitability. We believe that these initiatives will help us achieve our goal of reinvigorating the Company's growth, and we are continuing to see early signs of improving trends through significant increases in franchised restaurant remodels and a growing development pipeline of new franchised restaurants."
Pizza Inn, Inc. is headquartered in The Colony, Texas, along with its distribution division, Norco Restaurant Services Company. Pizza Inn franchises approximately 362 restaurants and owns three restaurants with annual domestic and international chain-wide sales of approximately $150 million.
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