THE COLONY, Texas, Sept. 16, 2010 (GLOBE NEWSWIRE) -- Pizza Inn, Inc. (Nasdaq:PZZI) today reported net income of $1.2 million, or $0.15 per share, for the fiscal year ended June 27, 2010, versus net income of $1.2 million, or $0.14 per share, for the prior fiscal year. Highlights for the fourth quarter and fiscal year 2010 included:
- Pre-tax income from continuing operations was $2.2 million for fiscal 2010 compared to $1.9 million for the prior fiscal year, an increase of 16% compared to the prior fiscal year.
- The Company opened more restaurants than it closed for the first time in eleven years. The opening of 25 restaurants during the fiscal year is the most in 5 years, while the closing of 22 restaurants during the year is the least in 13 years.
- Comparable domestic buffet restaurant sales decreased 7% for both fiscal 2010 and for the fourth quarter compared to the prior fiscal year.
- Total comparable domestic restaurant sales decreased 8% for both fiscal 2010 and for the fourth quarter compared to the prior fiscal year.