INDIANAPOLIS -- Noble Roman's, Inc. (OTC Bulletin Board: NROM), franchisor of pizza-focused foodservice operations, reported net income of $172,451, or $.01 per share, for third quarter 2001, which ended Sept. 30, 2001. Net income for the same period last year was slightly higher at $276,226, or $.02 per share.
Net income in this period in 2001 was somewhat less than originally forecasted. Anticipated growth in new openings primarily in the hotel industry, slowed as a result of the national crisis following terrorist attacks on September 11, 2001. Noble Roman's anticipates rapid growth in the number of franchised units over the next several months as it has switched emphasis to other venues until the hotel industry recovers.
Total revenues for the three-month period ended September 30, 2001 were approximately $1.5 million, down about a half million compared to the same period in 2000. Total systemwide foodservice sales were estimated at $11 million for the quarter.
For the first nine months of 2001, Noble Roman's reported a net income of $596,275, or $.04 per share, compared to a net income of $502,456, or $.05 per share last year. Total revenues for that period were approximately $4.6 million, compared $4.1 million for the period in 2000. Total system-wide foodservice sales were estimated at $32 million for the first nine months of 2001.
Noble Roman's has now awarded approximately 870 franchises in 42 states and Puerto Rico since it began franchising its non-traditional foodservice concept in 1997. Current franchised Noble Roman's foodservice operations are in diverse business venues such as the Isuzu manufacturing plant in Lafayette, IN, hotels such as a Radisson Hotel in Los Angeles, several U.S. Naval bases, international airports in Indianapolis, Denver, and Charlotte, N.C., bowling and family entertainment centers, co-brand locations with Subway units in several states and with Taco John's in Illinois, Kentucky, Tennessee and Iowa, casinos in Las Vegas, NV, various university locations across the country and convenience store locations nationwide.