Noble Roman’s Net Up Despite Revenue Decline

Pizza Marketplace.com:

Revenues at Noble Roman’s, Inc., the franchisor of Noble Roman’s Pizza and Tuscano’s Italian Style Subs, were $1.9 million for the company’s second quarter ended June 30, off 21 percent compared with revenues of $2.4 million for the 2008 second quarter. Year-to-date revenues were $3.8 million, off 21 percent compared with revenues of $4.8 million for the first half of last year.

Net income for the second quarter was $415,234, up 5 percent compared with net income of $395,307 in the 2008 second quarter. Year-to-date net income was $831,995, up 16 percent compared with net income of $716,737 for the same period last year.

The increase in net income was primarily the result of implementing a previously announced strategy of intensifying the company’s focus on non-traditional franchising and discontinuing company operation of restaurants except for two locations used for training and demonstration purposes.