(Source: PrimeNewswire)

THE COLONY, Texas, Nov. 5, 2009 (GLOBE NEWSWIRE) -- 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.
Highlights for the first quarter of fiscal year 2010 included:
* Sales from Company-owned restaurants increased 186%, or
$0.4 million, in the first quarter of fiscal 2010 compared to
the same quarter of the prior fiscal year, primarily due to
the opening of new buffet locations in Denton, Texas in October,
2008 and Ft. Worth, Texas in September, 2009.
* Comparable domestic buffet restaurant sales decreased 3.6% for
the first quarter of fiscal 2010 compared to the same quarter of
the prior fiscal year.
* Chain-wide comparable domestic restaurant sales decreased 4.2%
for the first quarter of fiscal 2010 compared to the same quarter
of the prior fiscal year.
* Franchise revenue for the first quarter of fiscal 2010 was flat
to the same quarter of the prior fiscal year at $1.1 million
despite the decline in same store sales due to four new
franchise store openings in the current fiscal quarter compared
to one new opening in the same quarter of the prior fiscal year.
* For the second consecutive fiscal quarter, there were no
buffet restaurant closures in the first quarter of fiscal
2010, compared to three such closures in the first quarter of
fiscal 2009.
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."
Certain statements in this press release, other than historical information, may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created thereby. These forward-looking statements are based on current expectations that involve numerous risks, uncertainties and assumptions. Assumptions relating to these forward-looking statements involve judgments with respect to, among other things, future economic, competitive and market conditions, regulatory framework and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond Pizza Inn's control. Although the assumptions underlying these forward-looking statements are believed to be reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that any forward-looking statements will prove to be accurate. In light of the significant uncertainties inherent in these forward-looking statements, the inclusion of such information should not be regarded as a representation that Pizza Inn's objectives and plans will be achieved.
Pizza Inn, Inc. (www.pizzainn.com) is an owner, franchisor and supplier of a system of restaurants operating domestically and internationally under the trademark "Pizza Inn." The Company and its distribution division, Norco Restaurant Services Company, are headquartered in The Colony, Texas.