Boston Restaurant Associates, Inc. Announces 34% Increase in Quarterly Revenues.Business Editors BOSTON--(BUSINESS WIRE)--March 13, 2000 Boston Restaurant Associates, 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 : BRAI) (BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). : BNR) Boston Restaurant Associates, Inc. reported revenues in their third quarter ending January 23, 2000 of $4.265 million, which is up 34.3% from the same period in the previous year of $3.175 million. George R. Chapdelaine, 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. , said, "The increase in revenues was due primarily to the opening of three successful food court locations for Pizzeria Regina during the last twelve months." Mr. Chapdelaine went on to say, "The increase was also due to the 10% increase in same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of for our flagship Policari's restaurant in Saugus. We look forward to a continuation of this revenue trend, especially in light of our highly successful Polcari's opening in Salem, NH late in the January quarter, and the planned summer opening of Polcari's in the Cape Cod Mall Cape Cod Mall a regional shopping mall located in Hyannis, Massachusetts, United States. Its anchor stores are Barnes & Noble, Best Buy, Sears, Marshalls, Macy's and Macy's women's Store;[http://www.highbeam.com/doc/1G1-161772983. , Hyannis, MA." BOSTON RESTAURANT ASSOCIATES, INC. owns 14 Pizzeria Reginas and two 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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