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Noble Roman's reports profit despite lower revenue

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Indianapolis-based Noble Roman’s Inc. said late Monday that it posted a third-quarter profit of $459,535, or 2 cents per share—a 44-percent improvement over the same period last year. But revenue for the quarter fell to $1.9 million, from $2.2 million in 2008.

The company attributed the profit growth to a year-old plan that calls for discontinuing operations of most company-owned stores and focusing on franchised locations in “non-traditional venues” such as hospitals, military bases, universities, convenience stores and hotels.

“This strategy has allowed the company to narrow its focus and decrease its overhead and operating expenses during this period of weakened consumer activity,” Noble Roman’s said in a statement.

The franchisor of Noble Roman’s Pizza and Tuscano’s Italian Style Subs also has been making progress on growing its new “take-and-bake” pizza options—both in its franchises and as a stand-alone offering in grocery stores.

Noble Roman’s said it has signed agreements for 44 grocery store locations, up from 22 in the second quarter, and it sells take-and-bake pizzas at 16 convenience stores, generating “significant add-on sales.” The company expects considerable growth in grocery store outlets over the next several months.

A similar grab-and-go program for a portion of the Tuscano’s menu is in place at seven traditional Noble Roman’s Pizza and/or Tuscano’s Subs locations.

Profit during the Noble Roman's nine-month period totaled $1.3 million, or 7 cents per share, up 26 percent despite an 18-percent drop in revenue, to $5.7 million.

Company shares rose from 61 cents to 70 cents each yesterday, prior to the earnings announcement.

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  1. I took Bruce's comments to highlight a glaring issue when it comes to a state's image, and therefore its overall branding. An example is Michigan vs. Indiana. Michigan has done an excellent job of following through on its branding strategy around "Pure Michigan", even down to the detail of the rest stops. Since a state's branding is often targeted to visitors, it makes sense that rest stops, being that point of first impression, should be significant. It is clear that Indiana doesn't care as much about the impression it gives visitors even though our branding as the Crossroads of America does place importance on travel. Bruce's point is quite logical and accurate.

  2. I appreciated the article. I guess I have become so accustomed to making my "pit stops" at places where I can ALSO get gasoline and something hot to eat, that I hardly even notice public rest stops anymore. That said, I do concur with the rationale that our rest stops (if we are to have them at all) can and should be both fiscally-responsible AND designed to make a positive impression about our state.

  3. I don't know about the rest of you but I only stop at these places for one reason, and it's not to picnic. I move trucks for dealers and have been to rest areas in most all 48 lower states. Some of ours need upgrading no doubt. Many states rest areas are much worse than ours. In the rest area on I-70 just past Richmond truckers have to hike about a quarter of a mile. When I stop I;m generally in a bit of a hurry. Convenience,not beauty, is a primary concern.

  4. Community Hospital is the only system to not have layoffs? That is not true. Because I was one of the people who was laid off from East. And all of the LPN's have been laid off. Just because their layoffs were not announced or done all together does not mean people did not lose their jobs. They cherry-picked people from departments one by one. But you add them all up and it's several hundred. And East has had a dramatic drop I in patient beds from 800 to around 125. I know because I worked there for 30 years.

  5. I have obtained my 6 gallon badge for my donation of A Positive blood. I'm sorry to hear that my donation was nothing but a profit center for the Indiana Blood Center.

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