IRVING, Texas -- CEC Entertainment, parent company of Chuck E. Cheese's Pizza, announced in a March 28 SEC filing that 2001 revenues increased to $562.2 million, up 11.1 percent over 2000.
According to the statement, the increases primarily were due to the opening of 28 new restaurants and a comparable store sales increase of 2.6 percent.
Net income was $64.2 million compared to $55.4 million in 2000. Diluted earnings per share increased to $2.24, compared to $1.98 last year.
Revenues from franchise fees and royalties were down slightly at $3.2 million, compared to $3.3 million in 2000. The drop, according to the company, was primarily due to closures of two franchise restaurants and the acquisition of two franchise restaurants by CEC.
Franchise comparable store sales increased 3.9 percent in 2001.
In 2001, average annual revenues per restaurant increased to approximately $1,634,000, compared to $1,576,000 in 2000. Menu prices also increased 2.8 percent between the two years.
After closing four stores last year, there now are 353 Chuck E. Cheese's Pizza restaurants.