Noble Roman's Announces Continued Growth for Second Quarter 2014

Thus far in 2014, the company has signed 24 additional new franchise/license agreements for non-traditional locations other than grocery stores and is in discussion with numerous other convenience store chains and entertainment facilities for additional non-traditional locations. The primary source of growth in this segment comes from existing franchisees and exhibiting in various industry trade shows including the National Association of Convenience Stores, Western Petroleum Marketers Association, International Association of Amusement Parks and Attractions, and selected state convenience store associations.

Mr. Mobley stated that "during the second quarter we signed agreements, with a chain of approximately 300 convenience stores, for six locations, all of which are to open in August and September of this year. The chain has targeted 21 additional locations which it intends to sign agreements for shortly after the six are opened with development continuing thereafter until they have put Noble Roman's Pizza in nearly all of their locations."

The company has entered into agreements for 61 stand-alone take-n-bake locations and is currently in discussions with several other prospects. The company continues to tightly screen all applicants for a stand-alone take-n-bake franchise and declines a high percentage of the applicants.   

Mr. Mobley stated, "Our stand-alone take-n-bake development is still relatively new and we are continuing to look at further enhancements to improve sales and to make the operation even more appealing. During the second quarter we added an in-store baking service called 'You Bake or We Bake!' which is resulting in improved sales. In addition to broadening consumer appeal in general, this service has expanded our take-n-bake daypart earlier into the day, as we now offer hot pizzas and other menu items for lunch. The new baking service requires no substantial change in unit layouts, square footage or labor requirements, and can easily be incorporated into existing operations as well as new ones. Approximately 50% of existing franchises have added that service,  others are considering adding the service and this service is part of the concept for all new locations going forward. Also, during the second quarter, we made the decision to focus our efforts on adding new locations in markets where existing franchises have already been sold to aid in market penetration for more affordable mass marketing efforts which should further increase unit volumes. Further enhancements to this venue will be ongoing. Our marketing initiatives to attract potential take-n-bake franchisees continues to be successful in generating a significant number of leads, however we are being highly selective in the approval process."    

Balance Sheet Summary

Current assets totaled $4.4 million and current liabilities totaled $2.1 million as of June 30, 2014 compared to total current assets of $3.5 million and current liabilities of $2.0 million as of December 31, 2013. Total bank debt was $3.2 million as of June 30, 2014 compared to $3.85 million as of December 31, 2013. Total stockholders' equity as of June 30, 2014 was $12.67 million compared to $11.70 million as of December 31, 2013.

2014 Outlook

Management provided the following revenue outlook for 2014 during its annual shareholder meeting. 

• Revenue growth of 5% to 7% for royalties and fees from non-traditional franchises
• Revenue growth of 10% to 15% for royalties and fees from grocery take-n-bake locations
• Revenue growth of 300% to 350% for royalties and fees from stand-alone take-n-bake franchises

The statements contained in this press release concerning the company's future revenues, profitability, financial resources, market demand and product development are forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) relating to the company that are based on the beliefs of the management of the company, as well as assumptions and estimates made by and information currently available to the company's management.  The company's actual results in the future may differ materially from those projected in the forward-looking statements due to risks and uncertainties that exist in the company's operations and business environment, including, but not limited to, competitive factors and pricing pressures, non-renewal of franchise agreements, shifts in market demand, general economic conditions, changes in purchases of or demand for the company's products, licenses or franchises, the success or failure of individual franchisees and licensees, changes in prices or supplies of food ingredients and labor, and the success or failure of its recently developed stand-alone take-n-bake operation.  Should one or more of these risks or uncertainties materialize, or should underlying assumptions or estimates prove incorrect, actual results may differ materially from those described herein as anticipated, believed, estimated, expected or intended.  The company undertakes no obligations to update the information in this press release for subsequent events.

Noble Roman's, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Unaudited)
Assets	December 31,  2013	June 30,             2014
Current assets:
Cash	$     157,787	$    278,381
Accounts receivable - net	1,268,788	1,988,843
Inventories	337,822	338,688
Prepaid expenses	472,065	566,344
Deferred tax asset - current portion	1,250,000	1,250,000
Total current assets	3,486,462	4,422,256
Property and equipment:
Equipment	1,361,205	1,369,753
Leasehold improvements	88,718	88,719
	1,449,923	1,458,472
Less accumulated depreciation and amortization	962,502	1,000,232
Net property and equipment	487,421	458,240
Deferred tax asset (net of current portion)	9,332,024	8,739,228
Other assets including long-term portion of receivables - net	3,067,754	3,203,979
Total assets	$ 16,373,661	$ 16,823,703
Liabilities and Stockholders' Equity
Current liabilities:
Current portion of long-term notes payable to bank	$   1,216,250	$ 1,216,250
Accounts payable and accrued expenses	818,803	913,818
Total current liabilities	2,035,053	2,130,068
Long-term obligations:
Notes payable to bank – net of current portion	2,635,208	2,027,083
Total long-term liabilities	2,635,208	2,027,083
Stockholders' equity:
Common stock – no par value (25,000,000 shares authorized, 19,585,089        issued and outstanding as of December 31, 2013 and 19,801,087        issued and outstanding as of June 30, 2014)	23,498,401	23,519,402
Accumulated deficit	(11,795,001)	(10,852,850)
Total stockholders' equity	11,703,400 Werbung Mehr Nachrichten zur Noble Romans Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 25.04.24 - PR Newswire BH Macro Limited - Transaction in Own Shares 25.04.24 - PR Newswire Samson Rock Capital LLP - Form 8.3 - TClarke Plc 25.04.24 - PR Newswire Samson Rock Capital LLP - Form 8.3 - Spirent Communications PLC SolarBank    Wie die Revolution der sauberen Energie eine solide Investitionsmöglichkeit bieten könnte weiterlesen» Anzeige wo-site-teaser-box-16755_site-teaser-box_2024-04-25_09%253A00%253A00_2024-04-26_09%253A00%253A59