Noble Roman’s profit increases 30 percent-WEB ONLY

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Noble
Roman’s Inc. yesterday reported profit of $416,761, or 2 cents per share, in
the first quarter, a 30-percent increase over the same period a year ago.

The Indianapolis
based franchisor of Noble Roman’s Pizza and Tuscano’s Italian Style Subs saw
quarterly revenue slip to $1.9 million, down 20 percent from last year.

Noble Roman’s attributed the higher profit to the company’s strategy of
focusing on non-traditional franchising and discontinuing company operation of
restaurants except for the two locations used for training and demonstration
purposes. The strategy has allowed the company to decrease overhead and
operating expenses, company officials said.

Total overhead and operating costs for the latest quarter were $1.1 million
compared to $1.7 million for the same quarter a year ago.

The company sold fewer franchise agreements in the quarter, resulting in
decreasing revenue.

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