Noble Roman's Inc., the Indianapolis-based franchisor and licensor of Noble Roman's Pizza and Tuscano's Italian Style Subs, today announced results for the quarterly period ended June 30, 2013.
The chain has eight stand-alone, take-n-bake locations open with 13 additional locations under development. It also has been expanding its grocery take-n-bake venture and has about 1,675 grocery license agreements and 30 new non-traditional franchise agreements signed this year
Q2 Financial and Operational Highlights (compared to 2012)
- Net income was $455,622, or $0.02 per share, compared to $242,122, or $0.01 per share.
- Operating margin on total revenue was 40.5 percent compared to 37.1 percent.
- Total revenue was $1.99 million, up 10.8 percent compared to $1.79 million.
- Upfront franchisee fees and commissions were $241,726 compared to $63,489.
- Royalties and fees less upfront fees were $1.62 million compared to $1.60 million.
- Royalties and fees from non-traditional franchises other than grocery stores were $1.11 million compared to $1.15 million.
- Royalties and fees from grocery store take-n-bake locations were $374,085 compared to $370,825.
- Royalties and fees from traditional locations were $81,033 compared to $80,329.
- And royalties and fees from stand-alone take n bake locations were $53,000 compared to none.
"We continue to successfully leverage the opportunities for revenue growth while maintaining control over operating expenses by maintaining focus on our primary growth engines through our take-n-bake initiatives," said Paul Mobley, chairman and CEO of Noble Roman's, Inc. "This success is reflected in our growth in revenue, growth in operating margin and increase in net income before taxes. We have built a profitable platform for growth, benefitting from the increasing popularity of the take-n-bake concept, and as we expand both the stand-alone franchise concept and our network of grocery customers, we expect accelerated top- and bottom-line growth. We are well on our way to achieving our growth initiatives for the year in both areas."
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