UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) APRIL 11, 2006
PIZZA INN, INC.
(Exact name of registrant as specified in its charter)
MISSOURI 0-12919 47-0654575
(State or other jurisdiction of incorporation) (Commission File Number) (IRS
Employer Identification No.)
3551 PLANO PARKWAY, THE COLONY, TEXAS 75056
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (469) 384-5000
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
On April 11, 2006 Pizza Inn, Inc. announced that comparable buffet
restaurant sales increased 1.1 percent for the fiscal quarter ended March 26,
2006. Pizza Inn, Inc. elects to disclose the information in the press release
furnished as Exhibit 99.1 to this report and incorporated herein by reference
through Form 8-K.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(C) EXHIBITS.
EXHIBIT NO. DESCRIPTION OF EXHIBIT
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99.1 Press Release dated April 11, 2006 (furnished herewith and
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incorporated herein by reference)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Pizza Inn, Inc.
Date: April 13, 2006 By:/s/ Rod J. McDonald
Rod J. McDonald, Secretary
FOR IMMEDIATE RELEASE
CONTACT:
TAYLOR L. COLE, APR
M STRATEGIES INC. FOR PIZZA INN
214/741-2100 OR 972/333-4343
TAYLOR@MSTRATEGIESINC.COM
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PIZZA INN COMPARABLE STORE BUFFET SALES INCREASE IN THIRD QUARTER
Improvement is the Result of Corporate Strategy and Unified Brand Vision
THE COLONY, TEXAS, April 12, 2006 -- Following seven consecutive quarters of
declining comparable store buffet sales, Pizza Inn Inc. (NASDAQ: PZZI) announces
a 1.1 percent increase in comparable buffet store sales for the fiscal quarter
ending March 26, 2006. The company attributes these results to its new consumer
positioning and supporting marketing plan, both implemented by the new Pizza Inn
management team.
Last year, Pizza Inn conducted a brand study to clarify operational issues and
opportunities, define customer expectations, and create a design direction for
Pizza Inn's store re-imaging. In January, the company implemented a strategic
marketing plan and set a course for its new brand strategy.
"Pizza Inn's 2006 marketing plan takes an entirely new approach to improving
comparable store sales by focusing on the brand's competitive strengths," said
TIM TAFT, PRESIDENT AND CEO OF PIZZA INN. "Just a little more than 90 days ago
we implemented this strategic plan, and today we are already seeing encouraging
results. Likewise, we are seeing the impact of the trust and confidence our
franchise partners have in the new direction. They are reengaging and working
with Pizza Inn corporate toward one common objective. We believe we are well on
our way toward improving the overall operating performance of the company,
however, much work remains."
Pizza Inn will host its national Franchise Convention & Supplier Exhibition on
April 30 - May 3, 2006, in Frisco, Texas, where long-term growth objectives and
sales-building programs will be presented. The company also plans to announce
financial results for the third quarter of fiscal 2006 in early May.
Certain statements in this press release, other than historical information, may
be considered forward-looking statements, within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995, and
are subject to various risks, uncertainties and assumptions. Should one or more
of these risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may differ from those anticipated, estimated or
expected. Among the key factors that may have a direct bearing on Pizza Inn's
operating results, performance or financial condition are its ability to
implement its growth strategies, national, regional and local economic
conditions affecting the restaurant/entertainment industry, competition within
each of the restaurant and entertainment industries, store sales
cannibalization, success of its franchise operations, negative publicity,
fluctuations in quarterly results of operations, including seasonality,
government regulations, weather, commodity, insurance and labor costs.
PIZZA INN, INC. (www.pizzainn.com) is headquartered in The Colony, Texas, along
with its distribution division, Norco Restaurant Services Company. Pizza Inn
franchises approximately 378 restaurants and owns five restaurants with annual
chain-wide sales of approximately $155 million.