Noble Roman’s Inc. yesterday reported profit of $416,761, or 2 cents a 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 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.