Blimpie International reports six month earnings.NEW YORK--(BUSINESS WIRE)--Feb. 7, 1996--Blimpie International, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : NMS See NetWare Management System. :BMPE BMPE Black Market Peso Exchange ) today announced second quarter revenues and net income for the quarter ended Dec. 31, 1995. The company's revenues rose 50% to $8,783,069 and net income increased 100% to $1,015,846 compared with the quarter ended Dec. 31, 1994. Primary and fully-diluted earnings per share rose to $.11 per share from $.06 per share for the second quarter ended Dec. 31, 1995. For the six month period ending Dec. 31, 1995, the company's revenues rose 42% to $16,774,616 and net income increased 66% to $1,800,309 as compared with the six month period ending Dec. 31, 1994. Primary earnings per share rose to $.19 per share from $.13 per share for the six month period ending Dec. 31, 1995. "Revenues and net income for the quarter ended Dec. 31, 1995 are the highest quarterly earnings in the company's history, gearing us towards our eighth consecutive fiscal year of record earnings and revenues," said Anthony Conza, President 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 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, Inc. The company's goals for fiscal year 1996 include opening an additional 600-700 BLIMPIE outlets. BLIMPIE International, Inc. is the franchisor of the nation's second leading submarine submarine, naval craft capable of operating for an extended period of time underwater. Submarines are almost always warships, although a few are used for scientific or business purposes (see also submersible). sandwich restaurant chain, with approximately 1300 outlets operating in 44 states. Last year, the company made its initial foray into Verb 1. foray into - enter someone else's territory and take spoils; "The pirates raided the coastal villages regularly" raid encroach upon, intrude on, obtrude upon, invade - to intrude upon, infringe, encroach on, violate; "This new colleague invades my the international market by opening several outlets in Stockholm Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden Sweden, Swed. Sverige, officially Kingdom of Sweden, constitutional monarchy (2005 est. pop. 9,002,000), 173,648 sq mi (449,750 sq km), N Europe, occupying the eastern part of the Scandinavian peninsula. . In 1995, the company was ranked by Nation's Restaurant News as the fastest growing quick-service restaurant chain in the country. For more information, 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, Inc. (800) 447-6256 extension 11. -0-
BLIMPIE International Inc.
Consolidated Statement of Operations:
Three Months Ended
Dec. 31,
1995 1994
Revenues $8,783,069 $5,854,638 Expenses 7,144,223 5,034,962 Income before income taxes 1,638,846 819,676 Income taxes 623,000 313,000 Net income 1,015,846 506,676 Shares outstanding 9,477,226 8,576,126 Primary earnings per share $ 0.11 $ 0.06 Fully diluted earnings per share $ 0.11 $ 0.06
Six Months Ended
Dec. 31,
1995 1994
Revenues $16,774,616 $11,805,465 Expenses 13,829,307 10,018,159 Income before income taxes 2,945,309 1,787,306 Income taxes 1,145,000 705,000 Net income 1,800,309 1,082,306 Shares outstanding 9,477,226 8,576,126 Primary earnings per share $ 0.19 $ 0.13 Fully diluted earnings per share $ 0.19 $ 0.12 Consolidated Balance Sheet Information:
Dec. 31, June 30,
1995 1995
Current assets $10,023,874 $ 8,026,319 Property 874,207 692,579 Other assets 10,582,495 6,532,607 Assets 21,480,576 15,251,505 Current liabilities 5,196,498 5,292,771 Deferred revenue 2,598,037 2,638,019 Long term debt 9,045 12,738 Shareholder equity 13,676,996 7,307,977 Liabilities and shareholder's equity 21,480,576 15,251,505 CONTACT: Kirshenbaum Bond & Partners, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Janina Lieberson, 212/633-0080 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion