Good Times Announces 3rd-Quarter Results, Net Income of $57,000, Frozen Custard Rollout 75% Complete.Business Editors GOLDEN, Colo.--(BUSINESS WIRE)--Aug. 15, 2001 Good Times Restaurants Inc. (Nasdaq:GTIM) today reported its results for the third fiscal quarter and nine months ended June June: see month. 30, 2001. The Company also announced that 75% of its restaurants have completed the implementation of frozen custard and the balance of the restaurants will have it rolled out over the next month. For the third quarter, revenue increased 5.8% to $4.3 million, versus $4.1 million last year. 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 increased .4% for the quarter. Net income decreased to $57,000 from $71,000 last year. Net income was negatively impacted by store closures and additional labor costs related to store remodels and the implementation of frozen custard. For the first nine months of fiscal 2001, the net loss improved to ($41,000) from ($310,000) in the same prior-year period. Revenues increased 13.8% from four additional restaurants, increased franchise royalties and a same store sales increase of 1.7%. "We have been marshalling See data marshalling and marshal. (communications) marshalling - (US -ll- or -l-) The process of packing one or more items of data into a message buffer, prior to transmitting that message buffer over a communication channel. our advertising resources for the launch of frozen custard and are pleased with our third-quarter sales results that were supported with minimal levels of media. The initial results from frozen custard are exciting, generating over 10% incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. sales in some restaurants without any formal advertising support," said Boyd Boyd may refer to any of the following: People See Boyd (surname) The name Boyd has Irish roots that originally meant "blondheaded". Fictional characters
A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: . At the same time, we are anticipating increased sales with the addition of strong media support of frozen custard beginning August 20th." Hoback added that new signage and graphics are being rolled out to all stores over the next three months as a part of the broader brand repositioning repositioning Laparoscopic surgery The changing of a Pt's position during a procedure to improve access or visualization of the operative field, which may be linked to complications, as it changes anatomic planes of operation. Cf Laparoscopic surgery. to "Good Times Burgers Burgers are hamburgers. Burgers may also refer to:
adj. Not in the period of most frequent or heaviest use: lower rates for telephone calls made during off-peak hours; travelers who take advantage of off-peak fares. " sales periods. Because we are confident it can be such an important part of our concept and will have tremendous sales potential, we are implementing the brand repositioning through our advertising, packaging, signage and graphics. It is very exciting to see the early customer response to another high-quality, unique product category that will continue to build our brand reputation for great-tasting products and build a unique position for Good Times." Concluding, Hoback added: "Over the next two quarters we will fully implement and support the introduction of frozen custard, refine the product category and begin to seed the brand repositioning. We expect this to add fundamental strength and appeal to the concept and increase average store sales and profitability. We believe these initiatives will lead to accelerated growth of new company-owned and franchised restaurants over the next two fiscal years." Certain statements in this release that are not historical facts may be "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ." Actual events may differ materially from those projected in any forward-looking statement. There are a number of important factors involving risks and uncertainties beyond the control of the Company that could cause actual events to differ materially from those expressed or implied by such statements. A description of risks and uncertainties attendant ATTENDANT. One who owes a duty or service to another, or in some sort depends upon him. Termes de la Ley, h.t. As to attendant terms, see Powell on Morts. Index, tit. Attendant term; Park on Dower, c. 1 7. to Good Times Restaurants Inc. and its industry and other factors which could affect the Company's financial results are included in the Company's Securities and Exchange Commission filings.
Three Months Ended Nine Months Ended
June 30, June 30,
(Unaudited) (Unaudited)
2001 2000 2001 2000
---- ---- ---- ----
Total Revenues $4,293,000 $4,059,000 $12,077,000 $10,616,000
Income From Restaurant
Operations 736,000 835,000 1,989,000 1,847,000
Income (Loss) From
Operations 140,000 177,000 191,000 (141,000)
Net Income (Loss) 51,000 71,000 (47,000) (310,000)
Net Income (Loss) Per
Common Share $.02 $.03 $(.02) $(.14)
Weighted Average
Shares -- Diluted 2,244,975 2,226,995 N/A N/A
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