Pizza Inn, Inc. Reports Results for First Quarter Fiscal Year 2010

According to CNNMoney.com, “Pizza Inn, Inc. (Nasdaq:PZZI) today reported net income of $0.4 million, or $0.05 per share, for the fiscal quarter ended September 27, 2009, versus net income of $0.3 million, or $0.03 per share, for the same quarter of the prior fiscal year.”

“Charlie Morrison, President and CEO, commented, ‘Over the past two years, we have communicated that the keys to long-term sustainable growth and rejuvenation of the Pizza Inn brand centered around slowing the rate of buffet closures, successfully opening new company-operated restaurants, and building a pipeline of new franchise openings for the future. First quarter results demonstrate that these initiatives are working. No buffet restaurants have been closed for two consecutive quarters, another new company-operated store has been successfully opened, and new franchise locations have been opened, with more slated to open during the remainder of the fiscal year. Although tough economic conditions have impacted same store sales, our top-line performance is ahead of the pizza category average and the health of our business is very good.'”