Noble Roman’s quarterly profit, revenue slips

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Noble Roman’s Inc. profit and revenue slipped in the second quarter as fewer of its traditional Noble’s Pizza
and Tuscano’s Italian Style Subs stores were operating.

Total revenue was $1.8 million in the quarter ended June 30, down slightly from $1.9 million in the same period last year,
the company said late Tuesday. Profit was $374,673, down from $415,234.

The company attributed the revenue drop to a decline in the number of traditional stores and a decrease in ongoing royalties
and fees from non-traditional locations other than grocery stores.

Its “take-n-bake” grocery store operations were a bright spot, growing revenue during the quarter.

Noble Roman’s began offering a home-baked version of its pizza to grocery stores in September and had signed 190 agreements
through June 30, the company said. By Aug. 6, 234 grocery stores had signed on.

The company said its customers who operate grocery store chains have indicated that they intend to introduce take-n-bake
at additional stores, and Noble Roman’s has engaged a grocery distribution company that will promote the program to
its 1,700 clients.

Noble Roman’s also has been awarded four contracts to open franchises on military bases.

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