Noble Romans Earnings Reports | Quarterly & Annual NROM SEC Filings

Quarter (USD)	Mar 20	Dec 19	Sep 19	Jun 19
Revenue	2.72M	2.58M	3.08M	3.12M
Net income	-255.04K	-1.76M	467.61K	441K
Diluted EPS	-0.01	-.08	-0.02	-0.02
Net profit margin	-9.38%	-68.28%	15.19%	14.13%
Operating income	589.27K	224K	835K	801K
Net change in cash	921.59K	-56.27K	42.58K	86.03K
Cash on hand	1.14M	218.13K	274.4K	231.82K

Annual (USD)	Dec 19	Dec 18	Dec 17	Dec 16
Revenue	11.7M	12.45M	9.84M	7.84M
Net income	-378.07K	-3.06M	-3.38M	-870.84K
Diluted EPS	-0.02	-0.14	-0.16	-.04
Net profit margin	-3.23%	-24.60%	-34.41%	-11.11%
Operating income	2.61M	2.66M	2.94M	3.08M
Net change in cash	141.94K	-384.87K	-16.86K	283.91K
Cash on hand	218.13K	76.19K	461.07K	477.93K

Financial data from company earnings reports

Recent insider trades

NROM insider ownership history Insider history

Date	Owner	Security	Transaction	Code	10b5-1	$Price	#Shares	$Value	#Remaining
19 Aug 19	Marcel Herbst	Common Stock	Sell	Dispose S	No	0.55	91,409	50.27K	316,491

Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q4 2019

NROM institutional ownership history Ownership history

0.3% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	1	1	–
Opened positions	0	0
Closed positions	0	0
Increased positions	0	0
Reduced positions	0	0

13F shares	Current	Prev Q	Change
Total value	29K	30K	-3.3%
Total shares	60K	60K	–
Total puts	0	0
Total calls	0	0
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
Westwood Management	60K	$29K	0.0%

Largest transactions	Shares	Bought/sold	Change
Westwood Management	60K	0	0.0%

Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

Risks

Current COVID-19 pandemic.
Competition from larger companies.
Dependence on growth strategy.
Dependence on success of franchisees and licensees.
Dependence on distributors.
Dependence on consumer preferences and perceptions.
Ability to service our outstanding indebtedness and the dilutive effect of our outstanding warrants.
Interruptions in supply or delivery of food products.
Dependence on key executives.
Federal, state and local laws with regard to the operation of the businesses.
Indiana law with regard to purchases of the Company’s stock.
Inapplicability of corporate governance standards that apply to companies listed on a national exchange.

Management Discussion

The revenue from this venue remained approximately the same at $1.1 million. Revenue was increased by opening an additional Craft Pizza & Pub restaurant on March 25, 2020 but that increase was offset by the Governor of the State of Indiana issuing an order on March 16, 2020 in response to the COVID-19 pandemic closing all dining rooms for inside dining for an indefinite period of time but allowed carry-out and delivery.
Cost of sales increased to 21.6% from 20.8% in the comparable period last year.
Salaries and wages improved to 29.1% compared to 32.0% for the comparable period in 2019. This improvement was primarily the result of efficiencies gained as the restaurants had been operating longer. It was also partially the result of all of the dining rooms being closed by order of the Governor on March 16, 2020, however the restaurants continued to use Pizza Valet service for carry-out which decreased the labor requirements to a greater extent in percentage terms than the sales were reduced by the lack of dining room service.

Content analysis ?

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

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Removed: achieving, affirmative, amortization, approximated, arising, arrangement, commencement, Comparing, determinable, determining, direct, disagreement, drawn, equal, executed, experience, extreme, Fall, FASB, final, grew, guarantee, implicit, inception, incremental, interpretation, issue, leasing, lessee, low, matured, meaningful, negative, obligation, operated, pay, pledge, principle, priority, public, readily, refinance, relation, released, repaying, repayment, requiring, resolution, ROU, schedule, standard, taxable, terminate, Topic, typically, Update, vacated, weather, winter

From filing 10-Q 2020 Q1