RAVE Restaurant Group (RAVE) Reports Q1 EPS of $0.01

RAVE Restaurant Group (NASDAQ: RAVE) reported Q1 EPS of $0.01, versus $0.01 reported last year.

• Pizza Inn domestic comparable store retail sales increased 3.1% in the first quarter of fiscal 2020 compared to the same period of the prior year.
• Pie Five comparable store retail sales decreased 12.2% in the first quarter of fiscal 2020 compared to the same period of the prior year.
• Total revenue decreased by $0.1 million to $2.9 million for the first quarter of fiscal 2020 compared to the same period of the prior year.
• The Company recorded net income of $0.2 million for the first quarter of fiscal 2020 compared to net income of $0.1 million for the same period of the prior year.
• On a fully diluted basis, net income remained stable at $0.01 per share for both the first quarter of fiscal 2020 and the same period of the prior year.
• Adjusted EBITDA of $0.4 million for the first quarter of fiscal 2020 decreased $0.1 million from the same period of the prior year.
• Cash and cash equivalents increased to $2.4 million as of the end of the first quarter of fiscal 2020, a $0.2 million increase during the quarter.
• Pizza Inn domestic unit count including PIE finished at 152.
• Pizza Inn international unit count finished at 34.
• Pie Five domestic unit count finished at 56.

"I'm excited to join RAVE and committed to competing hard to drive traffic and increase profitability," said Brandon Solano, Chief Executive Officer of RAVE Restaurant Group, Inc. "Pizza Inn continues to grow comp sales and we plan to build on that momentum in the coming quarters. Pie Five has experienced challenges, but we\'re facing them head on. Pie Five has a strong core offering and we are working on a plan to increase consumer relevance, profitable traffic and unit economics."

For earnings history and earnings-related data on RAVE Restaurant Group (RAVE) click here.

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