Boston Restaurant Associates, Inc. Announces a Fifty Percent Increase in Income From Operations

Business Wire, Dec 2, 1999

BOSTON--(BUSINESS WIRE)--Dec. 2, 1999--

Boston Restaurant Associates, Inc. (NASDAQ:BRAI) (BSE:BNR)

Boston Restaurant Associates, Inc. today announced a fifty percent increase in operating income before pre-opening costs. Income before pre-opening were $221,276 this quarter versus $153,473 for same period last year. Cash flow before pre-opening expenses was $389,146 compared to $296,917 for the same period last year. Net income was $33,825 compared to $85,493 for the same period last year.

George R. Chapdelaine commented, "Income from operations before pre-opening continues to increase. Current pre-opening costs are directly attributable to the Company's current expansion program."

BOSTON RESTAURANT ASSOCIATES, INC. owns 13 Pizzeria Reginas and one Polcari's. In addition, the Company also franchises both Pizzeria Regina and Polcari's.

Statements about the company's future expectations, including future expansions, franchising, revenue and earnings, and all other statements in the press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time the Company's actual results could differ materially from expected results.