Attached files
| file | filename |
|---|---|
| 8-K - PIZZA INN, INC. - RAVE RESTAURANT GROUP, INC. | pizza8k092110.htm |
| EX-99.1 - PRESS RELEASE - RAVE RESTAURANT GROUP, INC. | pizza8kex991092110.htm |
Exhibit 99.2
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PIZZA INN, INC.
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CONSOLIDATED STATEMENTS OF OPERATIONS
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(In thousands, except per share amounts)
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Year Ended
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June 27,
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June 28,
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REVENUES:
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2010
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2009
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Food and supply sales
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$ | 33,945 | $ | 37,793 | ||||
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Franchise revenue
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4,067 | 4,180 | ||||||
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Restaurant sales
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2,858 | 1,873 | ||||||
| 40,870 | 43,846 | |||||||
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COSTS AND EXPENSES:
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Cost of sales
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33,023 | 36,355 | ||||||
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Franchise expenses
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1,950 | 1,929 | ||||||
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General and administrative expenses
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3,449 | 3,217 | ||||||
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Severance
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- | 68 | ||||||
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Provision for bad debts
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155 | 75 | ||||||
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Litigation costs
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- | 263 | ||||||
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Interest expense
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62 | 57 | ||||||
| 38,639 | 41,964 | |||||||
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INCOME FROM CONTINUING
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OPERATIONS BEFORE TAXES
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2,231 | 1,882 | ||||||
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Income tax expense
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786 | 531 | ||||||
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INCOME FROM
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CONTINUING OPERATIONS
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1,445 | 1,351 | ||||||
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Loss from discontinued
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operations, net of income tax benefit
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(281 | ) | (179 | ) | ||||
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NET INCOME
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$ | 1,164 | $ | 1,172 | ||||
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EARNINGS (LOSS) PER SHARE OF COMMON
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STOCK - BASIC:
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Income from continuing operations
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$ | 0.18 | $ | 0.16 | ||||
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Loss from discontinued operations
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$ | (0.03 | ) | $ | (0.02 | ) | ||
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Net income
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$ | 0.15 | $ | 0.14 | ||||
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EARNINGS (LOSS) PER SHARE OF COMMON
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STOCK - DILUTED:
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Income from continuing operations
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$ | 0.18 | $ | 0.16 | ||||
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Loss from discontinued operations
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$ | (0.03 | ) | $ | (0.02 | ) | ||
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Net income
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$ | 0.15 | $ | 0.14 | ||||
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Weighted average common
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shares outstanding - basic
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8,011 | 8,580 | ||||||
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Weighted average common
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shares outstanding - diluted
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8,011 | 8,580 | ||||||