Donini Announces First Quarter Financial Results
October 15 2009 - 3:14PM
Marketwired
Peter Deros, President and CEO of Donini, Inc. (PINKSHEETS: DNNC),
announced that the Company has filed today its Quarterly Report,
which includes the Company's first quarter financial results for
the period ending August 31, 2009.
Mr. Deros stated that while sales were less than the previous
period, the operating expenses were reduced substantially,
resulting in record results. The quarterly losses for the period
($4,617) were the lowest in the Company's recent history despite
the weak economic conditions in the Montreal market. Donini
continues to experience good acceptance for its Pizza despite the
influx of new Pizza outlets in this area over the last two
years.
Mr. Deros stated that he is extremely optimistic about the
future of the Company which is already seeing signs of improvement
in cost controls under the leadership of Mr. Jean Vassiliadis, the
new President of the Company's Canadian Operating Subsidiary. Mr.
Deros also added that he is confident the plans for expansion and
growth over the next year will be achieved under Mr. Vassiliadis's
leadership. He has begun to affect changes, as in September, the
Company's arrangements with three franchisees were terminated with
the anticipation that new, better locations and improved management
will be part of the building blocks of Donini's future.
About Donini, Inc.
Donini, Inc., a New Jersey Corporation, was established in 2001
when the company acquired control by way of a reverse merger of
Pizza Donini, a Canadian company that has been operating and
licensing Italian style restaurants specializing in pizza and
related products within the Greater Montreal Area in the province
of Quebec for over 20 years. The Company has recently completed a
consolidation of its operations by establishing two Canadian
Subsidiaries, Donini Group Inc. and Pizzacorp DTC Franchises Inc.,
whose purposes are, respectively, to hold and control the
intellectual property of the Company and to license the trademarks
and oversee the licensed franchisees of the marks. The Company
plans to expand its operations into the United States and the rest
of Canada.
Safe Harbor Statement
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by the use of words such as "anticipate,"
"believe," "expect," "future," "may," "will," "would," "should,"
"plan," "projected," "intend," and similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of Donini, Inc., (the Company) to be
materially different from those expressed or implied by such
forward-looking statements. The Company's future operating results
are dependent upon many factors, including but not limited to the
Company's ability to: (i) obtain sufficient capital or strategic
business arrangement to fund expansion plans; (ii) build
management, human resources and infrastructure necessary to support
growth; (iii) competitive factors and developments beyond the
Company's control; and (iv) other risk factors.
Media Contact: Peter Deros Donini, Inc Phone: 514-956-0005 ext 2
pderos@pizzadonini.com
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