>THE COLONY, Texas, May 12, 2009 (GLOBE NEWSWIRE) — Pizza Inn, Inc. (Nasdaq:PZZI) today reported net income of $361,000, or $0.05 per share, for the third quarter ended March 29, 2009, versus net income of $898,000, or $0.09 per share, for the third quarter of the prior fiscal year. Highlights for the quarter ended March 29, 2009, included:
* Comparable domestic buffet restaurant sales decreased 0.9%
for the quarter compared to the same period of the prior
* Total domestic restaurant sales decreased 3.0% for the quarter
compared to the same period of the prior fiscal year.
* Sales for the company owned prototype buffet-style restaurant
located in Denton, TX that opened in October 2008 averaged
$30,000 per week for the quarter.
* Excluding the impact of an income tax expense of $203,000 for
the third quarter compared to an income tax benefit of $216,000
in the same quarter in the prior year, net income per share
would have been flat, or $0.07 in both periods.
* Two new domestic and three franchise international restaurants
opened during the quarter.
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