News

Revenues, CEO's bonus down at Pizza Inn

March 28, 2002

DALLAS -- A 37-store decrease and sagging stock prices are likely causes for a drop inPizza Inn CEO Jeff Rogers' bonus for this year. Rogers earned $1.5 million this year, compared to $1.4 million last year.

According to an SEC filing, Rogers's compensation is based on a salary of $619,424, a $475,000 bonus (compared to $550,000 last year), $263,233 in supplemental benefits, plus 62,500 stock options.

On October 17, Pizza Inn reported flat earnings per share for its first quarter ended September 23, 2001 of 6 cents for the same quarter last year. Net income was down at $590,000, compared to $646,000 last year. In both years revenue was $16.8 million. Comparable chainwide same-store sales for the quarter were up slightly at a half a percent.

Pizza Inn, Inc. franchises and services approximately 450 Pizza Inn restaurants in 21 states, mainly in the Southeast, and additionally throughout the world.