Exhibit 99.2

 

 

PIZZA INN, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
		Year Ended
		June 27,				June 28,
REVENUES:		2010				2009
Food and supply sales		$	33,945			$	37,793
Franchise revenue			4,067				4,180
Restaurant sales			2,858				1,873
			40,870				43,846
COSTS AND EXPENSES:
Cost of sales			33,023				36,355
Franchise expenses			1,950				1,929
General and administrative expenses			3,449				3,217
Severance			-				68
Provision for bad debts			155				75
Litigation costs			-				263
Interest expense			62				57
			38,639				41,964
INCOME FROM CONTINUING
OPERATIONS BEFORE TAXES			2,231				1,882
Income tax expense			786				531
INCOME FROM
CONTINUING OPERATIONS			1,445				1,351
Loss from discontinued
operations, net of income tax benefit			(281	)			(179	)
NET INCOME		$	1,164			$	1,172
EARNINGS (LOSS) PER SHARE OF COMMON
STOCK - BASIC:
Income from continuing operations		$	0.18			$	0.16
Loss from discontinued operations		$	(0.03	)		$	(0.02	)
Net income		$	0.15			$	0.14
EARNINGS (LOSS) PER SHARE OF COMMON
STOCK - DILUTED:
Income from continuing operations		$	0.18			$	0.16
Loss from discontinued operations		$	(0.03	)		$	(0.02	)
Net income		$	0.15			$	0.14
Weighted average common
shares outstanding - basic			8,011				8,580
Weighted average common
shares outstanding - diluted			8,011				8,580

 

 

 

 

---