Interfoods of America, the franchisee of Miami-Based Popeyes Chicken & Biscuits, has announced its Q1 results for the fiscal quarter ended 31 December 2001.

The company reported total revenues of US$37.6m for the quarter, slightly up from total revenue of US$36.8m year on year. This increase was primarily attributed to the sales generated by the opening of one restaurant and an increase of same store sales of 1.9% for the Q1. Same store sales are stores owned and operated at least one full year.

Interfoods reported net income of US$268,074 or US$ .05 per share for the Q1 of fiscal 2002 as compared to net income of US$363,913 or US$.07 per share for the Q1 of fiscal 2001. This, said the company, is because during the latest Q1 it incurred expenses of US$103,580 or US$.02 per share related to the termination of two of its leases on non-operating properties.

Founded in 1972, Popeyes is a leader in the Cajun segment of the foodservice industry and is the world's second-largest quick-service chicken concept.