Interfoods of America Inc., (OTCBB:IFDA) the Miami-based Popeyes Chicken & Biscuits Franchisee announced its second quarter results for the quarter ended March 31, 2001.
Revenue for the second quarter increased to $38,002,498 from $19,965,480 in the same period last year. The Company reported net income for the second quarter of $435,903 or $0.08 per share compared to $288,831 or $0.05 per share a year ago. Revenue for the six-month period ended March 31, 2001 increased to $74,845,124 from $32,460,164 in the same period last year. The net income for the six-month period ended March 31, 2001 was $799,816 or $0.16 per share compared to $595,115 or $0.10 per share a year ago.
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The company achieved comparable store sales for stores open more than one year of 5.0 percent for the second quarter and 3.1 percent for first six months of fiscal 2001.
“We certainly are pleased with our record profit results for the second quarter and are very excited about the results that can be achieved, once the restaurants that were acquired last fiscal year are absorbed,” stated Robert S. Berg, Chairman and Chief Executive Officer.
Interfoods of America, Inc. is the largest Popeyes Chicken & Biscuits franchise partner in the United States. Through the development of new restaurants and the acquisition of existing restaurants, Interfoods of America, Inc. has grown from 11 restaurants in the Miami area to 164 restaurants in seven markets over the past five years.
Popeyes is a leader in the Cajun segment of the foodservice industry and is the world’s second-largest quick-service chicken concept. Founded in 1972, Popeyes has over 1,500 locations in 41 states, the District of Columbia and 18 countries and achieved 2000 worldwide sales of approximately $ 1.2 billion. Popeyes is a division of AFC Enterprises, Inc. (Nasdaq:AFCE), the franchisor and operator of more than 3,600 restaurants, bakeries and cafes in the United States and 28 countries.
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By GlobalDataInformation in this release relating to expansion plans, estimates of market sizes and demands for the company’s products as well as other future events, may contain forward-looking statements subject to certain risks and uncertainties that may cause actual results to differ materially. These matters are more fully presented in periodic reports the company files with the Securities and Exchange Commission, including forms 10-KSB, 10-Q Annual And Quarterly reports and other such filings. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update the forward-looking statements.
