Indianapolis-based Noble Roman's Inc. has announced results for the quarterly period ended March 31, which included a 15.5 percent jump in revenue. Net income was $418,330, compared to $244,300 during the same period last year.
Chairman and CEO Paul Mobley attributes this growth to the company's nontraditional, take-n-bake footprint.
"We continue to successfully leverage the opportunities we see for increasing unit growth and revenue within our nontraditional venues, while further developing the company's primary growth engines through our take-n-bake initiatives," he said. "This success is reflected in our positive operating metrics and by the increase in franchise agreements we've signed for new, nontraditional locations other than grocery stores."
The company has entered into agreements for 11 standalone take-n-bake locations. The first two standalone take-n-bake pizza locations opened in October and December 2012, the third location opened in January 2013, and the fourth and fifth locations opened in April 2013.
Three additional locations are scheduled to open this month, while the remaining three locations will open in the next few months.
The company is currently in discussions with several other prospects for its standalone program and is advertising for additional franchisees through various Web-based franchise referral systems, which began in late January 2013.
"Consumers continue to embrace the convenience and quality of our take-n-bake offering, which allows busy families to enjoy a hot, great-tasting meal in the comfort of their home at an affordable price," Mobley said.
The company expects take-n-bake initiatives in grocery stores and in standalone retail outlets to continue to provide a primary growth engine for the company.
Since the company started offering take-n-bake pizza to grocery store chains in late 2009, through May 6, 2013, the company has signed agreements for approximately 1,550 grocery store locations to operate the take-n-bake pizza program and has opened the take-n-bake pizza program in approximately 1,150 of those locations.
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