Pizza Marketplace.com:
Pizza Inn Holdings Inc. reported results for the second quarter of fiscal year 2012, including a decrease in net income – from $0.3 million to $0.1 million – due to the investment costs of opening its new Pie Five concept. Those costs came in at $0.2 million.
Additionally, extra costs were accrued to support the company’s growth in franchising in China.
The company opened three new Pie Five restaurants during the quarter, putting the concept’s footprint at five. Three more company-owned stores are expected to open before July, and Pizza Inn is currently offering Pie Five franchises in non-registration states.