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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Dec. 23, 2012	Feb. 06, 2013
Document and Entity Information
Entity Registrant Name	PIZZA INN HOLDINGS, INC /MO/
Document Type	10-Q
Document Period End Date	Dec. 23, 2012
Amendment Flag	false
Entity Central Index Key	0000718332
Current Fiscal Year End Date	--06-24
Entity Common Stock, Shares Outstanding		8,020,919
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 23, 2012	Dec. 25, 2011	Dec. 23, 2012	Dec. 25, 2011
REVENUES	$ 10,548	$ 10,336	$ 20,986	$ 21,483
COSTS AND EXPENSES:
Cost of sales	8,875	8,611	17,667	17,861
General and administrative expenses	1,153	898	2,158	1,793
Franchise expenses	566	521	1,067	973
Pre-opening expenses	85	164	164	176
Bad debt	45	15	90	30
Interest expense	35	17	139	33
Total Cost And Expenses	10,759	10,226	21,285	20,866
(LOSS) INCOME FROM CONTINUING OPERATIONS BEFORE TAXES	(211)	110	(299)	617
Income tax (benefit) expense	(103)	39	(148)	217
(LOSS) INCOME FROM CONTINUING OPERATIONS	(108)	71	(151)	400
Loss from discontinued operations, net of taxes	(12)	(15)	(27)	(31)
NET (LOSS) INCOME	$ (120)	$ 56	$ (178)	$ 369
EARNINGS PER SHARE OF COMMON STOCK - BASIC:
(Loss) Income from continuing operations.	$ (0.01)	$ 0.01	$ (0.02)	$ 0.05
Loss from discontinued operations	0.00	0.00	0.00	0.00
Net (loss) income.	(0.01)	0.01	(0.02)	0.05
EARNINGS PER SHARE OF COMMON STOCK - DILUTED:
(Loss) Income from continuing operations	(0.01)	0.01	(0.02)	0.05
Loss from discontinued operations.	0.00	0.00	0.00	0.00
Net (loss) income:	$ (0.01)	$ 0.01	$ (0.02)	$ 0.05
Weighted average common shares outstanding - basic	8,021	8,013	8,021	8,012
Weighted average common and potential dilutive common shares outstanding	8,184	8,362	8,172	8,172

CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) - USD ($)	Dec. 23, 2012	Jun. 24, 2012
CURRENT ASSETS
Cash and cash equivalents	$ 534	$ 590
Accounts receivable, less allowance for bad debts of $252 and $253, respectively	3,303	3,098
Inventories	1,531	1,852
Income tax receivable	429	431
Deferred income tax assets	1,070	1,078
Prepaid expenses and other	436	256
Total current assets	7,303	7,305
LONG-TERM ASSETS
Property, plant and equipment, net	5,520	4,794
Long-term notes receivable	115	27
Deposits and other	216	372
Total Assets	13,154	12,498
CURRENT LIABILITIES
Accounts payable - trade	1,422	1,562
Accrued expenses	1,856	1,756
Deferred revenues	128	200
Bank debt	556	765
Total current liabilities	3,962	4,283
LONG-TERM LIABILITIES
Bank debt, net of current portion	2,219	977
Deferred tax liability	553	699
Deferred revenues, net of current portion	107	125
Deferred gain on sale of property	71	84
Other long-term liabilities	22	22
Total liabilities	6,934	6,190
COMMITMENTS AND CONTINGENCIES (See Note 3)
SHAREHOLDERS' EQUITY
Common stock, $.01 par value; authorized 26,000,000 shares; issued 15,140,319 and 15,140,319 shares, respectively; outstanding 8,020,919 and 8,020,919 shares, respectively	151	151
Additional paid-in capital	9,244	9,154
Retained earnings	21,461	21,639
Treasury stock at cost Shares in treasury: 7,119,400	(24,636)	(24,636)
Total shareholders' equity	6,220	6,308
Total Liabilities and Stockholders' Equity	$ 13,154	$ 12,498

CONDENSED CONSOLIDATED BALANCE SHEETS PARENTHETICALS - USD ($)	Dec. 23, 2012	Jun. 24, 2012
Allowance for doubtful accounts	$ 252	$ 253
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	26,000,000	26,000,000
Common Stock, shares issued	15,140,319	15,140,319
Common Stock, shares outstanding	8,020,919	8,020,919
Treasury stock, Shares	7,119,400	7,119,400

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) - USD ($)	6 Months Ended
	Dec. 23, 2012	Dec. 25, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (178)	$ 369
Adjustments to reconcile net (loss) income to cash provided by operating activities:
Depreciation and amortization	627	389
Stock compensation expense	90	73
Deferred tax	(138)	39
Provision for bad debts	1	30
Changes in operating assets and liabilities:
Notes and accounts receivable	(319)	(282)
Inventories	321	105
Accounts payable - trade	(140)	(8)
Accrued expenses	100	(169)
Deferred revenue	(103)	(78)
Prepaid expenses and other	(26)	(283)
Cash provided by operating activities	235	185
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(1,324)	(1,222)
Cash used by investing activities	(1,324)	(1,222)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	0	23
Borrowings of bank debt	3,160	741
Repayments of bank debt	(2,127)	(167)
Cash provided (used) by financing activities	1,033	597
Net increase (decrease) in cash and cash equivalents	(56)	(440)
Cash and cash equivalents, beginning of period	590	949
Cash and cash equivalents, end of period	534	509
CASH PAYMENTS FOR:
Interest	141	32
Income taxes - net	$ 0	$ 57

Summary of Significant Accounting Policies

6 Months Ended

Dec. 23, 2012

Summary of Significant Accounting Policies

Summary of Significant Accounting Policies

(1)	Summary of Significant Accounting Policies

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly owned. All appropriate intercompany balances and transactions have been eliminated.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Fiscal Quarters

The three month periods ended December 23, 2012 and December 25, 2011, each contained 13 weeks. The six month periods ended December 23, 2012 and December 25, 2011, each contained 26 weeks.

Revenue Recognition

The Company recognizes revenue when products are delivered and the customer takes ownership and assumes risk of loss, collection of the relevant receivable is probable, persuasive evidence of an arrangement exists and the sales price is fixed or determinable. The Company's Norco division sells food and supplies to franchisees on trade accounts under terms common in the industry. Food and supply sales revenues, including shipping and handling costs, are recognized upon delivery of the product. Revenue from restaurant sales is recognized when food and beverage products are sold. The Company reports revenue net of sales taxes collected from customers and remitted to governmental taxing authorities.

Franchise revenue consists of income from license fees, royalties, and area development and foreign master license fees. License fees are recognized as income when there has been substantial performance under the agreement by the Company. Domestic license fees are generally recognized at the time the restaurant is opened. Foreign master license fees are generally recognized upon execution of the agreement as all material services relating to the sale have been substantially performed by the Company and the fee has been collected. Royalties are recognized as income when earned.

Stock-Based Compensation

The Company accounts for stock options using the fair value recognition provisions of the authoritative guidance on share-based payments. The Company uses the Black-Scholes formula to estimate the value of stock-based compensation for options granted to employees and directors and expects to continue to use this acceptable option valuation model in the future. The authoritative guidance also requires the benefits of tax deductions in excess of recognized compensation cost to be reported as a financing cash flow.

Use of Management Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company’s management to make estimates and assumptions that affect its reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent liabilities. The Company bases its estimates on historical experience and other various assumptions that it believes are reasonable under the circumstances. Estimates and assumptions are reviewed periodically and actual results could differ materially from estimates.

Reclassification

Certain items have been reclassified in the prior year financial statements to conform to current year presentation.

Long-Term Debt

6 Months Ended

Dec. 23, 2012

Long-Term Debt

Long-Term Debt

(2)	Long-Term Debt

On January 11, 2010, the Company entered into a Loan Agreement with Amegy Bank National Association (“Amegy”) providing for a $2.0 million revolving credit facility (with a $250 thousand letter of credit subfacility) and a $1.0 million term loan facility. On January 10, 2011, the Company and Amegy entered into a First Amendment to Loan Agreement increasing the Company's term loan facility and amending certain other provisions of the Loan Agreement. On October 26, 2011, the Company and Amegy entered into an Amended and Restated Loan Agreement further increasing the Company’s term loan facility and amending certain other provisions of the Loan Agreement. On June 1, 2012, the Company and Amegy entered into a First Amendment to the Amended and Restated Loan Agreement which revised certain definitions and financial covenants contained in the Company’s credit facilities with Amegy. As amended, the Amegy credit facility ultimately consisted of a $2.0 million revolving credit facility (with a $250 thousand letter of credit subfacility) and a $4.0 million term loan facility, in addition to $0.7 million in existing term loans.

Interest on indebtedness from time to time outstanding under the Amegy revolving credit facility was computed at the greater of Amegy’s prime rate or 5% and was payable monthly. A commitment fee of 0.25% per annum was payable quarterly on the average unused portion of the revolving credit facility. Interest on each term loan accrued at the greater of 6% or Amegy’s prime rate plus 1%. A fee of 0.5% of the total term loan facility was paid at closing.

On August 28, 2012, the Company entered into a Loan and Security Agreement (the “F&M Loan Agreement”) with The F&M Bank & Trust Company (“F&M”) providing for a $2.0 million revolving credit facility (with a $500 thousand letter of credit subfacility), a $2.0 million fully funded term loan facility and a $6.0 million advancing term loan facility. An origination fee of 0.5% of the total credit facilities was paid at closing.

The Company may borrow, repay and reborrow under the F&M revolving credit facility through August 28, 2014, at which time all amounts outstanding under the revolving credit facility mature. Availability under the revolving credit facility is limited by advance rates on eligible inventory and accounts receivable. Per annum interest on indebtedness from time to time outstanding under the revolving credit facility is computed at the Wall Street Journal prime rate plus 1.00% and is payable monthly. An unused commitment fee of 0.50% per annum is payable quarterly on the average unused portion of the revolving credit facility.

At closing, F&M funded a $2.0 million term loan payable in 48 equal monthly installments of principal plus accrued interest at a fixed rate of 4.574% per annum. Amounts repaid under this fully funded term loan may not be reborrowed. Proceeds from the F&M Loan Agreement were used to repay amounts borrowed under the Amegy credit facility and the Amegy credit facility was canceled.

Through August 28, 2014, F&M has agreed to make up to $6.0 million in additional term loans to the Company. Advances for such additional term loans are limited by a percentage of the costs of equipment, leasehold improvements and other opening costs for new Company-owned Pie Five restaurants and may not be reborrowed after repayment. Interest only is payable monthly on all additional term loan advances during an annual borrowing period. At the end of each annual borrowing period, all additional term loan advances during such borrowing period become payable in 48 equal monthly installments of principal plus accrued interest. Interest on each term loan accrues at the Wall Street Journal prime rate plus 1.00% or, at the Company’s option, a fixed rate equal to the Bloomberg 4-year LIBOR swap rate plus 3.90%.

As security for the credit facilities, the Company has pledged substantially all of its assets including, but not limited to, accounts receivable, inventory and equipment. The F&M Loan Agreement contains various affirmative covenants which, among other things, require the Company to provide F&M with certain financial statements, compliance statements, reports and other information. The F&M Loan Agreement also contains various negative covenants which, among other things, require the Company to maintain certain financial ratios and restrict the ability of the Company to engage in certain activities. If an event of default occurs under the F&M Loan Agreement and any cure periods have expired, F&M may terminate all commitments under the credit facilities and declare all unpaid principal, interest and other amounts owing under the credit facilities to be immediately due and payable. As of December 23, 2012, the total outstanding borrowings under the F&M Loan Agreement were $2.8 million. As of December 23, 2012, the Company had additional borrowing availability of $1.8 million under the revolving credit facility and $5.1 million under the advancing term loan facility, subject to the terms and conditions of the F&M Loan Agreement.

Commitment and Contingencies

6 Months Ended

Dec. 23, 2012

Commitment and Contingencies

Commitments and Contingencies

(3)	Commitments and Contingencies

On April 22, 2009, the Company’s board of directors amended the stock purchase plan first adopted on May 23, 2007, and previously amended on June 2, 2008, to increase the number of shares of common stock the Company may repurchase to a total of 3,016,000 shares. As of December 23, 2012, up to an additional 848,425 shares could be purchased under the plan.

The Company is subject to various claims and legal actions in the ordinary course of its business. The Company believes that all such claims and actions currently pending against it are either adequately covered by insurance or would not have a material adverse effect on the Company’s annual results of operations, cash flows or financial condition if decided in a manner that is unfavorable to the Company.

ACCOUNTING POLICIES (Policies)	6 Months Ended
ACCOUNTING POLICIES (Policies)	Dec. 23, 2012
ACCOUNTING POLICIES
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly owned. All appropriate intercompany balances and transactions have been eliminated.
Cash and Cash Equivalents Policy	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Fiscal Quarters	Fiscal Quarters The three month periods ended December 23, 2012 and December 25, 2011, each contained 13 weeks. The six month periods ended December 23, 2012 and December 25, 2011, each contained 26 weeks.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when products are delivered and the customer takes ownership and assumes risk of loss, collection of the relevant receivable is probable, persuasive evidence of an arrangement exists and the sales price is fixed or determinable. The Company's Norco division sells food and supplies to franchisees on trade accounts under terms common in the industry. Food and supply sales revenues, including shipping and handling costs, are recognized upon delivery of the product. Revenue from restaurant sales is recognized when food and beverage products are sold. The Company reports revenue net of sales taxes collected from customers and remitted to governmental taxing authorities. Franchise revenue consists of income from license fees, royalties, and area development and foreign master license fees. License fees are recognized as income when there has been substantial performance under the agreement by the Company. Domestic license fees are generally recognized at the time the restaurant is opened. Foreign master license fees are generally recognized upon execution of the agreement as all material services relating to the sale have been substantially performed by the Company and the fee has been collected. Royalties are recognized as income when earned.
Stock-Based Compensation Policy	Stock-Based Compensation The Company accounts for stock options using the fair value recognition provisions of the authoritative guidance on share-based payments. The Company uses the Black-Scholes formula to estimate the value of stock-based compensation for options granted to employees and directors and expects to continue to use this acceptable option valuation model in the future. The authoritative guidance also requires the benefits of tax deductions in excess of recognized compensation cost to be reported as a financing cash flow.
Use of Management Estimates	Use of Management Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company’s management to make estimates and assumptions that affect its reported amounts of assets, liabilities, revenues, expenses and related disclosure of contingent liabilities. The Company bases its estimates on historical experience and other various assumptions that it believes are reasonable under the circumstances. Estimates and assumptions are reviewed periodically and actual results could differ materially from estimates.
Reclassification	Reclassification Certain items have been reclassified in the prior year financial statements to conform to current year presentation.

Long-Term Debt Consists Of The Following (Details) - USD ($)	Jun. 24, 2012	Dec. 25, 2011
Revolving credit facility	$ 2,000,000	$ 2,000,000
Letter of credit subfacility	250,000	250,000
Term loan facility	$ 4,000,000	$ 1,000,000
Monthly rate of interest on revolving credit facility	5.00%	5.00%
Commitment fee on revolving credit facility Per annum payable quarterly	0.25%	0.25%
Interest on each term loan accrued	6.00%	6.00%
Total term loan facility fee	0.50%	0.50%

Loan and Security Agreement with F & M Bank & Trust Company (in Millions) (Details) - USD ($)	Dec. 23, 2012	Aug. 28, 2012
Revolving credit facility provided	$ 2.0	$ 2.0
Revolving credit facility with letter of credit subfacility	0.5	0.5
Fully Funded Term loan facility	2.0	2.0
Advancing term loan facility	$ 6.0	$ 6.0
Origination fee of the total credit	0.50%	0.50%
Unused commitment fee per annum is payable quarterly	0.50%	0.50%
F & M funded term loan payable	$ 1.9	$ 2.0
Term loan payable in equal monthly installments	48	48
Accrued interest at a fixed rate	4.574%	4.574%
F & M agreed to make up in additional term loans	$ 6.0	$ 6.0
Total outstanding borrowings under the F & M loan agreement	2.8	2.0
Borrowing availability of revolving credit facility	1.8	1.8
Advancing term loan facility subject to the terms and conditions of the F & M loan agreement	$ 5.1	$ 6.0

Commitments and Contingencies As Of (Details) - shares	Dec. 23, 2012	Jun. 02, 2008
Repurchase of number shares of common stock		3,016,000
Additional shares authorized for purchaser under the plan	848,425

Stock-Based Compensation During The Period (Details) - USD ($)	3 Months Ended	6 Months Ended
	Dec. 23, 2012	Dec. 23, 2012
Recognized stock-based compensation expense	$ 45,000	$ 90,000
Unamortized stock-based compensation expense	$ 300,000	$ 300,000

Outstanding Stock Options During The Period (Details) - shares	6 Months Ended
	Dec. 23, 2012	Dec. 25, 2011
Outstanding at beginning of year	486,506	604,036
Granted	414,800	94,032
Exercised	0	(10,000)
Forfeited/Canceled/Expired	0	(15,000)
Outstanding at end of period	901,306	673,068
Exercisable at end of period	380,706	511,702

Income Taxes Consist of the Following (Details) - USD ($)	3 Months Ended	6 Months Ended
	Dec. 23, 2012	Dec. 23, 2012
Income tax benefit	$ 103,000	$ 148,000
Effective income tax rate that is consistent with the statutory U.S. federal income tax rate	34.00%	34.00%
Deferred tax Asset.	$ 1,100,000	$ 1,100,000
Deferred tax liability.	$ 553,000	$ 553,000