Boston Restaurant Associates, Inc. - First Quarter Sales Up 23% - Net Income Up 15%.Business Editors BOSTON--(BUSINESS WIRE)--Sept. 18. 2001 Boston Restaurant Associates, Inc.(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BRAI)--Boston Restaurant Associates, Inc. announced that its first quarter results for the thirteen weeks ending July 29,2001. Sales were up 23% to $5,979,231 and net income increased 15% to $94,142, or $.01 per share. The increase in sales was primarily due to the most recent openings of our additional unit Polcari's chain. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. George Chapdelaine, 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. and President, "We are pleased to report a modest increase in profits for the quarter. More materially, our "store level" cash flow was $964,000, up from $931,000 a year earlier. Our most important corporate priority at the current time is profit margin improvement at our Polcari's chain. Our original Polcari's in Saugus, Massachusetts Saugus is a town in Essex County, Massachusetts, United States. The population was 26,078 at the 2000 census. History Saugus was first settled in 1629. Saugus is an Indian name believed to mean "great" or "extended". continues its year over year sales increases and generates substantial cash flow and profits. The opportunity lies within our three units opened over the last year and a half. BOSTON RESTAURANT ASSOCIATES, INC. owns 12 Pizzeria Reginas and four Polcari's. In addition, the Company also franchises both Pizzeria Regina and Polcari's. Statements about the company's future expectations, including future expansions, franchising, revenue and earnings, and all other statements in the press release other than historical facts are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time the Company's actual results could differ materially from expected results. |
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