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ITEM
19
EARNINGS CLAIM |
The
following table is based
upon the average annual
sales of Restaurants which
sold the standard Papa
Gino’s menu, all
of which were in operation
during Papa Gino’s
Franchising Corp.’s
fiscal year, beginning
February 27, 2006 through
February 25, 20071, and
which were operated by
our Parent. Licensed Restaurants2
and affiliated Restaurants3
that also sold D’Angelo
Grilled Sandwiches menu
items are excluded.
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COMPARISON
OF AFFILIATE-OPERATED AND
FRANCHISED
RESTAURANTS FOR THE FISCAL
YEAR ENDING FEBRUARY 25,
2007 |
Traditional
Papa Gino’s
Restaurants |
| |
State |
#Units |
Average
Annual Sales |
Connecticut |
4 |
$796,360 |
Maine |
1 |
$710,796 |
Massachusetts |
113 |
$946,276 |
New
Hampshire |
16 |
$866,218 |
Rhode
Island |
9 |
$864,652 |
TOTAL
UNITS |
143 |
$926,341 |
|
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NOTE:
The top quartile of these
Restaurants, consisting
of 36 Restaurants, had average
annual sales of $1,253,598.
The second quartile of these
Restaurants, consisting
of 36 Restaurants, had average
annual sales of $973,313.
The third quartile of the
Restaurants, consisting
of 36 Restaurants, had average
annual sales of $821,653.
The bottom quartile of these
Restaurants, consisting
of 35 Restaurants, had average
annual sales of $649,100. |
1)
Six restaurants were not
included because they were
open for only a portion
of the fiscal year, and
one restaurant was not included
because it is in a non-traditional
location (a sports arena).
These locations were excluded
to present a more accurate
presentation of actual conditions.
2)
Licensed locations are not
included because they are
not open all year and/or
they are open only for restricted
hours of operation and/or
they are not open seven
days a week and/or they
have restricted menus.
3)
Dual units selling Papa
Gino’s pizza and D’Angelo
sandwiches have been excluded
because the franchise for
Papa Gino’s Restaurants
does not include D’Angelo
Grilled Sandwiches menu
items. |
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