Uno reports 63% jump in 2nd-Q profit

Nation's Restaurant News, June 15, 1992

BOSTON - A number of operating-cost factors combined to give Uno Corp. a 63-percent annual jump in second-quarter net income, to $634,000, on an 18-percent rise in revenues, to $19.6 million, for the period ended March 29.

The company said it benefited from several positive results during the period. The retail sales division boosted its top line by more than $1 million; food costs declined by 0.1 percent; general and administrative costs were equal to those of the year-ago quarter and declined as a percent of revenues; and the company enjoyed higher investment income and a lower effective tax rate.

Following trends begun at the beginning of the year, Uno Corp., operators of the Pizzeria Uno chain, noted that same-store sales gains were erratic, ranging from a low of 2.8 percent to as much as 5.7 percent.

"Recent menu changes continue to be well received by our customers, and with a growing consensus that the recession is bottoming out, we are hoping to see same-store sales move consistently into positive territory in upcoming quarters," the company stated. "The menu changes are intended to capitalize on the growing popularity of Italian food and include the introduction of gourmet, thin-crust pizza and additional pasta offerings."