Pizza Inn, Inc. Reports 3rd Quarter Earnings
PIZZA INN, INC.
Excluding the above-described reversal of approximately $1,286,000 (after- tax) or $.13 per share, net income of $2,571,000 or $.26 per share for the nine-month period ended March 30 was $1,285,000 or $.13 per share. This is compared to net income of $1,635,000 or $.16 per share for the same period last year.
Ronnie Parker, the Company's Chief Executive Officer, commented, "In spite of weaker economic conditions, we are not pleased with the results of the past quarter. However, we are excited about and focused on a number of new initiatives designed to improve Pizza Inn's growth."
Pizza Inn, Inc. For more information contact: 3551 Plano Parkway Ronald W. Parker The Colony, TX 75056 President and Chief Executive Officer (469) 384-5000
For more information about the company, visit Pizza Inn at www.pizzainn.com .
PIZZA INN, INC. (In thousands, except share and per share amounts) 3rd Quarter March 30, March 24, 2003 2002 Revenue $14,198 $15,286 Income before taxes $569 $724 Net Income $376 $478 Diluted earnings per share $0.04 $0.05 Basic earnings per share $0.04 $0.05 Weighted average shares outstanding: Diluted 10,063,572 10,057,890 Basic 10,058,547 10,057,890 Nine Months March 30, March 24, 2003 2002 Revenue $44,723 $48,580 Income before taxes $3,896 $2,477 Net Income $2,571 $1,635 Diluted earnings per share $0.26 $0.16 Basic earnings per share $0.26 $0.16 Weighted average shares outstanding: Diluted 10,060,795 10,108,364 Basic 10,058,408 10,103,922
SOURCE: Pizza Inn, Inc.
CONTACT: Ronald W. Parker, President and Chief Executive Officer of
Pizza Inn, Inc., +1-469-384-5000
Web site: http://www.pizzainn.com/