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INTERNATIONAL FAST FOOD REPORTS EXPECTED THIRD-QUARTER RESULTS; ANTICIPATES OPENING UP TO FOUR RESTAURANTS IN FIRST-HALF 1994

 MIAMI BEACH, Fla., Nov. 16 /PRNewswire/ -- International Fast Food Corporation (NASDAQ: FOOD), the Burger King(R) franchisee with the exclusive development rights for the Republic of Poland, today announced operating revenues of $896,205 for the third quarter ended Sept. 30, 1993, a 10.4-percent increase over second-quarter 1993 operating revenues. In the nine months of 1992, the company was a development- stage company, had no restaurants operating and generated no revenues.
 As expected, the company had a net loss of $543,395, or 18 cents per share, on 2,995,000 weighted average shares outstanding for the third quarter of 1993, compared with a net loss of $238,938, or 8 cents per share, on 2,995,000 weighted average shares outstanding for the third quarter of 1992.
 Mitchell Rubinson, chairman and chief executive officer, said the quarter's results were in line with management's expectations. "Given our short operating history, we expect to incur a loss in the early stages of growth as we open new restaurants, train employees and increase management depth. Our infrastructure is in place, we are now fully staffed and expect corporate overhead to level off."
 "Each restaurant has had positive cash flow since inception, with one site open for nine months, one open for 5 1/2 months, one open for 4 1/2 months, and one open for a little over two months. However, our labor costs have been higher than average due primarily to additional training and staffing of employees in preparation for opening new restaurants," he added.
 "We had expected to open several more restaurants in late 1993, but due to delays in obtaining permits, these restaurants will be opened in the first half of next year, which should contribute to revenues in 1994 and our long-term profitability."
 While Polish consumers are well-acquainted with the fast-food concept, Rubinson said, they are hungry for Western culture. "Poland's appetite for Western products and lifestyles should help our restaurants as we continue to expand throughout the country."
 NINE-MONTH RESULTS
 For the nine months ended Sept. 30, 1993, operating revenues were $2,014,611 and the net loss was $1,671,878, or 56 cents per share, on 2,995,000 weighted average shares outstanding, compared with no revenues and a net loss of $494,756 or 24 cents per share, on 2,098,000 weighted average shares outstanding in the nine months of 1992.
 FINANCIAL POSITION
 At Sept. 30, 1993, the company had working capital totaling $8,372,827 short-term investments and cash equivalents of approximately $14,548,308 and total shareholders' equity of $3,584,004.
 International Fast Food was organized in December 1991 to develop franchised Burger King restaurants in the Republic of Poland. The company completed an initial public offering of approximately 1.5 million shares in May 1992, generating $6.1 million in net proceeds to be used to develop restaurants. In December 1992, the company raised an additional $11.4 million from the sale of a 9-percent Convertible Subordinated Debenture due 2007.
 INTERNATIONAL FAST FOOD CORPORATION
 STATEMENT OF OPERATIONS
 (Unaudited)
 For the Three Months For the Nine Months
 Ended Sept. 30, Ended Sept. 30,
 1993 1992 1993 1992
 Sales $896,205 --- $2,014,611 ---
 Net loss (543,395) (238,938) (1,671,878) (494,756)
 Net loss per
 common share ($0.18) ($0.08) ($0.56) ($0.24)
 Weighted average
 number of shares
 outstanding 2,995,000 2,995,000 2,995,000 2,098,000
 -0- 11/16/93
 /CONTACT: Mitchell Rubinson, chief executive officer of International Fast Food Corp., 305-531-5800; or Audrey Lowe of The P.L. Thomas Group, 312-906-8060, for International Fast Food Corp./
 (FOOD)


CO: International Fast Food Corporation; Burger King ST: Florida IN: LEI SU: ERN

SM-KM -- DE027 -- 5139 11/16/93 13:35 EST
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Date:Nov 16, 1993
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