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Pizza Inn Holdings, Inc. Message Board

  • opusgator opusgator Feb 12, 2012 5:41 PM Flag

    here's what everyone is missing

    here's what everyone is missing...

    three units of P5 were opened during the quarter. you cannot just count the total days open and say that it was equal to having 2.1 units open the entire month.

    This was the 4th quarter of the year. Sales were impacted by Thanksgiving weekend and Christmas. The business is heavily skewed to lunch time crowds, and Lunchtime would have been lower during these holiday weeks. Also, the first 7-10 days for a new "fast food establishment are normally slower than normal

    It takes time to build repeat business, and for the community to learn that you are open. Counting 3 days at thanksgiving and 2 days at xmas, and 4 units, thats 20 impacted days. For the three units added in the quarter, assuming 7 days each to fully ramp up, thats another 21 days.

    We now have 41 of the 100 days of added "open-ness" impacted. So instead of 2.1 units operating, I argue its more like 1.67 units. for a full quarter revenues were $230,000. So I extrapulate out to $385,000 for the quarter.

    And what did the p5 stores do???????

    I'd be a buyer of the stock, and hold through next quarters report

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    • Idiot. There is no way Pizza Inn deserved the multiple it was trading at. Earnings are tiny and will only grow very modestly. I should have kept my short on for longer...

    • Yes, I believe you got it. This is pretty much what the company said when asked about P5 revenue. I'm still trying to figure this out so this is useful info. As long as they stick to growth plans and don't get too crazy on the costs, I think this is going to be big. It just might be a little volatile until they get up to critical mass. Then this baby's flying.

      Hopefully the China investments start showing some good returns too.

      gbl

    • Sounds reasonable. Also, pre-open costs and some heavy promotions created the 2Q Pie Five loss. The 1st store that was opened had all of June to get up to speed. Then reported a good qtr for the July thru Sept period (a brutal Texas summer).

      1Q cost % for 1st store was 78%.

      To roughly back into undiscounted sales for 2Q:
      2Q costs of $361k (excluding $164k pre open costs) / 78% = $462k estimated sales at full value.

      Just trying to illustrate how discounted the 2Q reported revenue of $346k might be.

 
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