Rave Restaurant Group, Inc. Reports Earnings Results for the Fourth Quarter Ended June 27, 2021
September 21, 2021 at 09:00 am EDT
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RAVE Restaurant Group, Inc. announced earnings results for the fourth quarter ended June 27, 2021. For the fourth quarter, the company announced Sales was USD 2.379 million compared to USD 1.617 million a year ago. Net income was USD 926,000 compared to USD 31,000 a year ago. Basic earnings per share from continuing operations was USD 0.05. For the full year, sales was USD 8.593 million compared to USD 10.028 million a year ago. Net income was USD 1.520 million compared to net loss of USD 4.233 million a year ago. Basic earnings per share from continuing operations was USD 0.09 compared to basic loss per share from continuing operations of USD 0.28 a year ago.
Rave Restaurant Group, Inc. franchises, licenses and supplies Pie Five and Pizza Inn restaurants operating domestically and internationally. The Company, through its subsidiaries, franchises pizza buffet (Buffet Units), delivery/carry-out (Delco Units) and express (Express Units) restaurants under the trademark Pizza Inn and franchises fast casual pizza restaurants (Pie Five Units) under the trademark Pie Five Pizza Company (Pie Five). It also licenses Pizza Inn Express (PIE), kiosks under the trademark Pizza Inn. Its segments include Pizza Inn Franchising, Pie Five Franchising and Company-Owned Restaurants. The Pizza Inn and Pie Five Franchising segments establish franchisees, licensees and territorial rights. The Company-Owned Restaurants segment includes sales and operating results for all Company-owned restaurants. It facilitates food, equipment, and supply distribution to its domestic and international system of restaurants through agreements with third party distributors.