Noble Roman's reports '01 loss despite revenue gains

March 27, 2002

INDIANAPOLIS -- On March 28, Noble Roman's, Inc., an Indianapolis-based franchisor of pizza-focused foodservice operations announced earnings for the year ended December 31, 2001.

For the period the company reported revenues of $5.7 million, and net income, before an extraordinary item of $603,000, or $.04 per share. This compares to 2000 revenues of $5.5 million, and net income before an extraordinary item of $696,000, or $.06 per share.

After reflecting the extraordinary item, the company reported a net loss of $1.1 million, or $.07 per share for 2001, compared to a net income of $531,000, or $.05 per share for 2000.

The company cited the events of Sept. 11 as negatively impacting sales in its non-traditional hotel sites.

Since 1999, Noble Roman's has focused on franchising non-traditional and co-brand locations, many of which are in c-stores. In the same year the company franchised all remaining full-service restaurants.

As of December 31, 2001, the company had awarded more than 950 franchises in non-traditional and co-brand locations in 43 states, plus Puerto Rico, Guam, Italy and Canada.

Topics: Public Companies

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