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Noble Roman's net off 44 percent
August 11, 2008
INDIANAPOLIS –- Revenues at pizzeria franchisor Noble Roman's Inc. were $2.4 million for the company's second quarter ended June 30, 2008, off 23 percent compared with revenues of $3.1 million for the 2007 second quarter.
Year-to-date revenues were $4.8 million, off 19 percent compared with revenues of $5.9 million for the first six months of last year.
Slower growth within the company's traditional co-branded franchise venue during both the first and second quarter more than accounted for the revenue decrease, company officials said. For the past several years, Noble Roman's has focused its franchising efforts on non-traditional venues such as hospitals, universities, military bases and convenience stores.
Net income for the quarter was $395,000, off 44 percent compared with net income of $704,000 for the 2007 second quarter. For the year to date, net income was $717,000, off 49 percent compared with net income of $1.4 million for the first half of 2007.
Noble Roman's Inc. franchises the Noble Roman's Pizza and Tuscano's Italian Style Subs concepts.
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