Noble Roman's doubles earnings for quarter

Aug. 11, 2003

INDIANAPOLIS - Noble Roman's Inc. announced continued growth of the company's franchising efforts resulted in a quarterly earnings increase of more than 130 percent, according to a news release.

For the quarter ended June 30, the company reported a net income of $391,000, or two cents per share on 16.2 million average shares outstanding, compared to a net income of $168,000, or one cent per share.

Total revenue for the period was up 23 percent to $1.9 million, compared to $1.6 million for the same period in 2002.

For the six-month period ended June 30, the company reported a net income of $663,000, or four cents per share, compared to $364,000, or two cents per share. That was an increase of more than 82 percent over the comparable period in 2002.

Revenue for the six-month period was up nearly 29 percent to $3.7 million, compared to $3 million in 2002.

Since 1997, according to the release, the company has been selling franchises in such non-traditional locations as universities, entertainment facilities, military bases, airports, convenience stores, travel plazas, commercial facilities, hotels and as a co-brand with other traditional restaurants.

Noble Roman's now has franchises located in 44 states plus Washington, D.C., Guam, Puerto Rico, Italy and Canada. Recently, the company expanded its targeted venues to include retail foodservice to hospitals.

Topics: Financial Management

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