Healthy Fast Food Announces First Quarter 2010 Results

Healthy Fast Food, Inc. (OTC Bulletin Board: HFFI), parent to U-SWIRL International, Inc., the owner and franchisor of U-SWIRL Frozen Yogurt® cafes, today announced its first quarter financial results for the three months ended March 31, 2010.  

Financial Highlights for Three Months Ended March 31, 2010 Compared to Three Months Ended March 31, 2009:

• Revenues from the U-SWIRL Frozen Yogurt operations increased to $556,501 from $15,699.  The Company launched its new U-SWIRL business in March 2009 with the opening of its first Company-owned store.
  
  
  
  • As of March 31, 2010, there were a total of six Company-owned cafes in operation – one opened in the first quarter ended March 31, 2009; one opened in the second quarter ended June 30, 2009; three opened in the third quarter ended September 30, 2009; and one opened mid-way through the first quarter ended March 31, 2010.
  • In addition, the Company had two franchised cafes in operation as of March 31, 2010 – one located in Henderson, Nevada and one in Reno, Nevada.
• After factoring in cafe operating costs, excluding pre-opening expenses of $8,744 related to staff training, supplies and grand-opening promotions, U-SWIRL achieved an operating profit of $131,687 from Company cafe operations.
• Net loss declined 24% to $262,668, or $0.09 per basic and diluted share, from $347,280, or $0.14 per basic and diluted share.

Operational Highlights for the First Quarter 2010:

• In February 2010, www.U-SWIRL.com, the Company's new web site, was officially unveiled.
• During the first quarter, U-SWIRL's Facebook fan page welcomed its 5,000th fan.
• On February 19, 2010, the Company hosted the official grand opening of its sixth company-owned U-SWIRL self-serve frozen yogurt cafe, located at 9360 W. Flamingo Road in Las Vegas, Nevada.  Boasting nearly 2600 square feet of space, the new cafe comfortably accommodates 65 guests inside and up to 56 on the outside patio.

Commenting on the results, Hank Cartwright, Chief Executive Officer of Healthy Fast Food, stated, "Despite enduring a relatively brutal winter and late arriving spring in Nevada, we are pleased with U-SWIRL's overall operating performance.  With the summer months fast approaching, we expect much greater sales momentum in the second and third quarters as the demand for our cool, refreshing frozen yogurt treats heats up.  Moreover, as our new franchise partners succeed in opening new U-SWIRL cafes in Reno, New Jersey and Arizona, as previously announced, franchise fees and royalties will begin to have more meaningful impact on our financial results in the quarters ahead."

 

 

 

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

Reader Comments:

Be the first to leave a comment for this article

Tweet