Boston Restaurant Associates, Inc. - Second Quarter Report Sales Up 18% - Record Profits.Business Editors BOSTON--(BUSINESS WIRE)--Dec. 7, 2001 Boston Restaurant Associates, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BRAI) today reported favorable quarterly revenues and profits. Revenues for the quarter ending 10/28/01 increased 18% to $5,985,000 from $5,051,000. Net income increased to $285,000 from $17,000 a year earlier. For the six months ending 10/28/01, revenues increased 20% to $11,976,000 and net income increased to $379,000 from $99,000 a year earlier. 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, "It is gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. to report these results, which represent the most tangible demonstration of the fundamental progress our Company is making. Our Pizzeria Regina outlets continue to be highly profitable. The largest contribution to our increased profitability is the improved profitability within our Polcari's division, which a year ago was in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of opening two new locations (Woburn, MA and Hyannis, MA). Profit margins at the newest Polcari's are steadily improving. The first Polcari's, now in its seventh year, in Saugus, MA continues to set sales and profit records. Chapdelaine continued, "We expect the balance of the current fiscal year to reflect continuing margin improvements at our Polcari's locations. That process is well underway and we are once again actively looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. new locations both for Pizzeria Regina and Polcari's. Once again, we would like to express our gratitude to our hard working operating staff, who are primarily responsible for the reported results." 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" 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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