EX-1
from 8-K
1 page
Pizza Inn, Inc.'s Senior Vice President -Corporate Development and General Counsel Resigns the Colony, Texas -June 16, 2004- Pizza Inn, Inc. (Nasdaq:pzzi) Announced Today That B. Keith Clark, the Company's Senior Vice President - Corporate Development and General Counsel, Is Resigning From the Company Effective July 7, 2004. Pizza Inn, Inc. Is Headquartered in the Colony, Texas, Along With Its Distribution Division, Norco Restaurant Distribution Services. Pizza Inn Represents Over 400 Restaurants With Annual Sales of Approximately $170 Million
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EX-1
from 8-K
1 page
Pizza Inn, Inc.'s CEO Repays Remaining Loan Balance the Colony, Texas -June 11, 2004- Pizza Inn, Inc. (Nasdaq:pzzi) Announced Today That Ronald W. Parker, the Company's President and Chief Executive Officer, Repaid in Full His Outstanding Loan to the Company, Which Had a Current Remaining Balance of Approximately $676,000. This Loan Originated From His Purchase of Company Stock Through the Exercise of Stock Options. the Company Has No Other Outstanding Loans to Officers. the Company Will Use the Proceeds to Reduce Its Outstanding Indebtedness Under Its Existing Revolving Credit Facility Which Balance Is Currently $1.2 Million (Before Repayment). Pizza Inn, Inc. Is Headquartered in the Colony, Texas, Along With Its Distribution Division, Norco Restaurant Distribution Services. Pizza Inn Represents Over 400 Restaurants With Annual Sales of Approximately $170 Million
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EX-1
from 8-K
1 page
Pizza Inn Reduces Staff and Expenses by More Than $1 Million to Benefit Franchisees the Colony, Texas -May 24, 2004- Pizza Inn, Inc. (Nasdaq:pzzi) Announced Today a Reduction in Its Headquarters and Distribution Facility Personnel of About 15% as Well as Several Variable Expenses. These Reductions Will Total More Than $1 Million Annually and Are Being Passed Along to Its Franchisees Through Price Reductions in Several Major Items Sold Through the Company's Distribution Division, Norco Restaurant Services. Ronnie Parker, Chief Executive Officer of the Company, Said, "This Was a Very Difficult Decision to Reduce Any of Our Personnel Because Our Team Has Worked Very Hard for Pizza Inn's and Its Franchisees' Success. However, With the Financial Pressures of So Many of Our Expenses, Including Cheese and Other Commodities, Increasing Significantly, We Must Remain Focused on and Committed to the Success of Our Franchisees Through Their Sales and Profitability. We Began a Number of Initiatives More Than a Year Ago to Rebuild a Healthier Company and Chain of Franchisees. Our Sales Trends Have Improved and These Expense Savings Will Help to Improve Their Profitability." Pizza Inn, Inc. Is Headquartered in the Colony, Texas, Along With Its Distribution Division, Norco Restaurant Services. Pizza Inn Franchises Over 400 Restaurants With Annual Chainwide Sales of Approximately $170 Million
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EX-1
from 8-K
1 page
<table> <caption> Pizza Inn, Inc. (In Thousands, Except Share and Per Share Amounts) 3rd Quarter - March 28, March 30, <s> <c> <c> 2004 2003 Revenue. . . . . . . . . . . . . . . . . . . . . . $ 14,643 $ 14,198 Income Before Taxes. . . . . . . . . . . . . . . . $ 937 $ 569 Net Income . . . . . . . . . . . . . . . . . . . . $ 617 $ 376 Diluted Earnings Per Share . . . . . . . . . . . . $ 0.06 $ 0.04 Basic Earnings Per Share . . . . . . . . . . . . . $ 0.06 $ 0.04 Weighted Average Shares Outstanding: Diluted . . . . . . . . . . . . . . . . . . . . 10,132,298 10,063,572 Basic . . . . . . . . . . . . . . . . . . . . . 10,078,619 10,058,547 Nine Months - March 28, March 30, 2004 2003 Revenue. . . . . . . . . . . . . . . . . . . . . . $ 44,788 $ 44,723 Income Before Taxes. . . . . . . . . . . . . . . . $ 2,546 $ 3,896 Net Income . . . . . . . . . . . . . . . . . . . . $ 1,679 $ 2,571 Diluted Earnings Per Share . . . . . . . . . . . . $ 0.17 $ 0.26 Basic Earnings Per Share . . . . . . . . . . . . . $ 0.17 $ 0.26 Weighted Average Shares Outstanding: Diluted . . . . . . . . . . . . . . . . . . . . 10,113,654 10,060,795 Basic . . . . . . . . . . . . . . . . . . . . . 10,069,626 10,058,408 </Table>
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