BLIMPIE International reports first quarter results; Record revenues top $10 million; Net income up 20%.NEW YORK--(BUSINESS WIRE)--Nov. 6, 1996--BLIMPIE International Inc. (NASDAQ/NM:BMPE BMPE Black Market Peso Exchange ) today announced revenues and net income for its first fiscal quarter ended Sept. 30, 1996. The company's revenues rose 29%, to $10,017,062, and net income increased 20% to $940,723, as compared with the quarter ended Sept. 30, 1995. Earnings per share rose to 10 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , as compared to 9 cents per share during the same period in 1995. "This quarter's report continues BLIMPIE Blimpie is a fast-food submarine sandwich chain headquartered in Scottsdale, Arizona, and is the third largest sandwich chain in the United States, behind Subway and Quiznos. The company is owned by Kahala•Cold Stone Corp. International's long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. growth pattern," said Anthony P. Conza, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the company, adding that for the third consecutive year, BLIMPIE was named by Forbes Magazine among the top 15% of the 200 Best Small Companies in America. During the quarter, BLIMPIE International saw the opening of its 1,500th franchise outlet, which includes traditional restaurants as well as "new concept" locations at hospitals, college campuses, convenience stores The following is a list of convenience stores organized by geographical location. Stores are grouped by the lowest heading that contains all locales in which the brands have significant presence. , discount department stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. and sports arenas. The company is also expanding internationally. Founded in 1964, BLIMPIE International Inc. is the second largest sub sandwich chain, with outlets in 45 states and five foreign countries. For more information, please contact Robert Sitkoff Robert H. Sitkoff (b. 1974) is the John L. Gray Professor of Law at Harvard Law School, where he is the only faculty member specializing in trusts and estates ("T&E").[1] at BLIMPIE International (800-447-6256, extension 111).
BLIMPIE International Inc.
Financial Highlights
Three months ended Sept. 30,
1996 1995
Consolidated Statement of Operations:
Total revenues $10,017,062 $ 7,767,427
Total expenses $ 8,727,099 $ 6,685,084
Interest income $ 236,760 $ 224,120
Income before income taxes $ 1,526,723 $ 1,306,463
Income taxes $ 586,000 $ 522,000
Net income $ 940,723 $ 784,463
Shares outstanding 9,496,276 9,452,026
Earnings per share $ .10 $ .09
September 30, June 30,
1996 1996
Consolidated Balance Sheet Information:
Total current assets $12,872,537 $12,613,770
Property $ 980,021 $ 972,251
Total other assets $ 8,246,497 $ 8,236,640
Total assets $22,099,055 $21,822,661
Total current liabilities $ 3,991,260 $ 4,121,035
Deferred income $ 1,244,816 $ 1,678,918
Deferred income taxes $ 343,000 $ 343,000
Long term debt $ 3,496 $ 5,202
Total shareholders' equity $16,516,483 $15,674,506
Total liabilities and shareholders'
equity $22,099,055 $21,822,661
CONTACT: Emmerling Post Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Janine Gordon, 212/753-4700 |
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