Boston Restaurant Associates, Inc. Announces Seventh Successive Profitable Quarter, Improved Balance Sheet, and New Polcari's Location.Business Editors BOSTON--(BUSINESS WIRE)--March 10, 2003 Boston Restaurant Associates, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BRAI) (BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). : BNR BNR Bulgarian National Radio BNR Banca Nationala a României (National Bank of Romania) BNR Biological Nutrient Removal (sewage treatment) BNR Bell Northern Research BNR Body Not Recovered BNR Big Nerd Ranch ), announced today their most recent earnings, and near term expansion plans. For the thirteen-week period ending January 26, 2003, net earnings were $209,680 versus $430,636. Net Revenues were $5,832,394 versus $6,242,658. 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: "While the difficult economy and poor weather affected our sales trends, we are proud to have produced our seventh successive profitable quarter. Effective control of food and labor costs, at both of our concepts, Pizza Regina and Polcari's, generated what we consider "acceptable" results under the circumstances. In terms of our expansion plans, we are excited about the recently signed lease for a new Polcari's full service restaurant, to open at MIT's "Tech Square" in our second fiscal quarter (August - October, 2003). We are also pursuing additional sites for both Polcari's and Pizzeria Regina." "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement Under 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 Forward-looking statements in this release and referenced report, including without limitation statements relating to the adequacy of the Company's working capital and other resources, its ability to obtain additional financing, and the timing of any future expansion, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation: potential quarterly fluctuations in the Company's operating results; seasonality of sales; competition; risks associated with expansion; the Company's reliance on key employees; risks generally associated with the restaurant industry; risks associated with geographic concentration of the Company's restaurants; risks associated with serving alcoholic beverages; and other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission. |
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