Diversified Restaurant Holdings Inc. (OTCBB: DFRH) Major Expansion Pays Off with Profitable 1st Half of 2009

2009-08-31
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  • Restaurant News Resource Revenue Exceeds $9.3MM Compared to $830,615 During the First Six Months of 2007

    Diversified Restaurant Holdings Inc. (OTCBB: DFRH) announced that the Company recorded profits in the first six months of 2009 of $149,500. Revenue from January 1, 2009 through June 30, 2009 was $9.3 million. If trends continue, forecasted revenue for the year ending December 31, 2009 would be $20 million, which far exceeds $11.6 million in revenue generated in 2008.

    'Over the last two years we have executed an aggressive expansion drive that has increased DRH sales. When comparing sales from the first-half of 2007 and the first-half of 2009, our sales have increased by more than one-thousand percent,' said T. Michael Ansley, President and CEO of Diversified Restaurant Holdings, Inc. 'This is in spite of the Michigan economy's downward trend since 2001 with the loss of its manufacturing base and the current recession. The key to our success has been great products, attentive service and our focus on the underdeveloped mid-range price point sector of the fast casual restaurant market bracketed on the low end by Wendy's and at the upper end by Red Robin. This modest pricing strategy has been particularly appealing to families and will be the touchstone of our future growth.'

    Logos, product and company names mentioned are the property of their respective owners.

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