Boston Restaurant Associates, Inc. Announces Cash Flow From Operations and Operating Income Before Pre-Opening Expenses Were Up in Excess of 100%.Business Editors BOSTON--(BUSINESS WIRE)--March 7, 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. announced today third quarter cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses was $635,000 in fiscal 2000 compared to $280,000 in the same period in fiscal 1999 a 125% increase. Income from operations was $430,000 compared to $142,000 in the prior year. Pre-opening expenses were $223,000 in the current period compared to $26,000 in the same period last year resulting in operating income of $207,000 for the third quarter of FY2000 compared to $116,000 for the same period last year. Net income increased by 156% to $131,000 for the third quarter of the current year compared to $51,000 for the same period last year. 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, "I am gratified 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. by the third quarter results showing substantial increases in net income, income from operations and cash flow. While the entire chain showed 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 increases, I am particularly pleased with performance of our Polcari's flagship store in Saugus, MA which is showing a 10% increase in year to date sales." Mr. Chapdelaine went on to say, "Our newest location in Salem, NH has exceeded our expectation due to the hard work of our operating team. We are now looking forward to an opening this summer of an additional Polcari's in 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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