Pizza Inn Reports 3rd Quarter Earnings

Apr 18, 2001, 01:00 ET from Pizza Inn, Inc.

    DALLAS, April 18 /PRNewswire/ -- Pizza Inn, Inc. (Nasdaq:   PZZI) 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 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.
    DALLAS, April 18 /PRNewswire/ -- Pizza Inn, Inc. (Nasdaq:   PZZI) 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 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.