Cluckcorp International announces year end results.SAN ANTONIO--(BUSINESS WIRE)--April 1, 1997--Cluckcorp International 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 Smallcap: ROTI ROTI Recording Optical Tracking Instrument (telescope for tracking rocket launches) ROTI Return on Technology Investment (financial analysis of IT intangible factors & total cost of ownership) , ROTIW) announced today that revenues from restaurant operations for the year ended Dec. 29, 1996 were $263,000 versus $226,000 for the prior year, while total revenues were $263,000 versus $276,000 for the year earlier. Net loss was $2,011,000 for the year ended Dec. 29, 1996 versus $924,000 for the previous year. The additional loss for the current year resulted primarily from increases in general and administrative expenses of approximately $700,000 and interest expense of $300,000. Currently, the company has four restaurants opened in the San Antonio/Corpus Christi, Texas area versus one restaurant opened as of last year. Four additional restaurants are planned for the same area in 1997. The company's Harvest Rotisserie Restaurants offer quick service, home made meals. The menu features oak roasted chicken and rotisserie roasted turkey plus roast glazed glaze n. 1. A thin smooth shiny coating. 2. A thin glassy coating of ice. 3. a. A coating of colored, opaque, or transparent material applied to ceramics before firing. b. ham, meatloaf, sandwiches and approximately 20 side dishes and desserts. Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "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. " provisions 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. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed in the company's period reports filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements. CONTACT: Cluckcorp International Inc., San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. 210/824-2496 |
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