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HMP Humptys Restuarants Intl

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Share Name Share Symbol Market Type
Humptys Restuarants Intl TSXV:HMP TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
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Humpty's Restaurants International Inc. (HMP-TSX) Today Released Financial Results for the 6-Month Period Ending June 30, 2009

31/08/2009 11:38pm

Marketwired Canada


Humpty's Restaurants International Inc. (TSX:HMP) today released financial
results for the 6-month period ending June 30, 2009.




                                            For the 6- Months ended June 30
                                                        2009           2008
----------------------------------------------------------------------------
Consolidated Revenue:                            $3,460,1738     $3,493,165
Net Income:                                          311,636        327,964
Net Income/Share:                                      0.021          0.022
Shares Outstanding:                               14,619,785     14,631,785
----------------------------------------------------------------------------



We are pleased to present the Second Quarter Report for Humpty's Restaurants
International Inc. (H.R.I.I.) for the six months ended June 30, 2009. Net income
for the period decreased significantly by 57.1% ($100,332 vs. $233,684) from the
same fiscal period that ended June 30, 2008. With these negative results from
the Second Quarter the net income for the six-month period that ended June 30,
2009 decreased by 5.0% ($311,636 vs. net income $327,964 in fiscal 2008).


Year-over-year Second Quarter combined revenue (Franchise revenue and Restaurant
operations) decreased 5.2% through the period from $1.81 million (Q2/08) to
$1.71 million (Q2/09). Franchise revenue recorded a slight decrease of 4.1%
whereas Restaurant revenue decreased by 6.1%. The decrease in Franchise revenue
can be attributed to the 8.7% decrease in Royalty fees collected. With the
economic climate being as it is, particularly in Alberta, same store sales in
the first six months of the year were down close to 9.0%.


Besides our total revenue being reduced by nearly $100,000 during the Second
Quarter as compared to fiscal 2008 the following two items contributed
significantly to our reduced net income for the period.


1. Clean-up of mold contamination in Lease premises in Thunder Bay ON, cost
$45,000 (Lease expired April 1, 2009).


2. A portion of the 2008 Audit Fees were charged to this Quarter. These fees
were $20,000.


Despite the drop in net income for the Second Quarter we can take solace in the
fact that year-to-date our net income has only suffered by 5%. At the same time
we also reduced our G&A expenses by 4.9%. Although this downturn in the economy,
the recession or depression as it has been referred, will likely continue for
the next nine to twelve months, we are optimistic for the future. Franchise
inquires continue to flow into our office which is a good sign. We are presently
in negotiations for two Franchise locations, one in both Alberta and
Saskatchewan. In September a contemporary "new look" Humpty's location will open
in Calgary. This corporate location will seat 130 customers and is expected to
generate $1.4 - $1.6 million sales per annum.


For detailed financial information, audited statements can be found at
www.sedar.com.


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