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Noble Roman's revenue down, earnings up
May 11, 2009
INDIANAPOLIS -- Revenues for Noble Roman's Inc. were $1.9 million for the first quarter ended March 31, off 21 percent compared with revenues of $2.4 million for the 2008 first quarter, the company has announced.
Net income for the quarter was $416,761, up 36 percent compared with net income of $304,795 for the 2008 first quarter.
The increase in earnings was primarily the result the company's focus on non-traditional franchising and discontinuing company operation of restaurants except for two locations used for training and demonstration purposes, Noble Roman's officials said. The decrease in total revenue was largely the result of selling fewer franchise agreements in the 2009 first quarter compared with the same period last year.
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