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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: April 14, 2000
PJ AMERICA, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-21587 61-1308435
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
2300 Resource Drive
Birmingham, Alabama 35242
(Address of principal executive offices)
(205) 981-2800
(Registrant's telephone number, including area code)
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Item 5. Other Events
On April 3, 2000, PJ America, Inc., a Delaware Corporation (the "Company")
announced First Quarter 2000 sales results. The Company also reported that it
expected to report First quarter earnings at the low end of the range previously
disclosed.
Exhibit No. Description of Exhibit
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99 PJ America, Inc. Press Release dated April 3, 2000 announcing
First quarter Sales results and other information.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PJ AMERICA, INC.
Date: April 14, 2000 By /s/ D. Ross Davison
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D. Ross Davison
Vice President Administration,
Chief Financial Officer
And Treasurer (Principal
Financial Officer)
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[PAPA JOHNS LOGO]
Contact: D. Ross Davison
Chief Financial Officer and Treasurer
(205) 981-2823
PJ AMERICA ANNOUNCES 1st QUARTER 2000 SALES RESULTS
Birmingham, Alabama, April 3, 2000
PJ America, Inc. (NASDAQ: PJAM), the largest franchisee of Papa John's
International, Inc. announced today that revenues for the first quarter ended
March 26, 2000 were $25.8 million. These results represent an increase of 18.2%
over revenues of $21.9 million for the first quarter in 1999. Comparable
restaurant sales for the quarter increased .2%. The company opened 7 restaurants
to end the first quarter with 159 restaurants in nine states and Puerto Rico.
The company also announced that it has hired Chris Campagna as its Director
of Marketing. This new position will focus on coordinating the company's
marketing strategies as well as heading the company's local store marketing
efforts. In addition, the company announced that it has hired Rob Compton as its
new VP of Training. The focus of this new training position will be to
coordinate and lead the management training program for the company.
The Company's President and C.E.O., Doug Stephens, said, "Our sales during
the quarter were less than management's expectations, and we are concentrating
on regaining our sales momentum. However, we do expect to report first quarter
earnings at the low end of the range we previously announced. We have just begun
our Anniversary Promotion and expect to see increases in both sales and
transactions. This will also be an excellent opportunity for our new markets in
California, Oregon and Puerto Rico to increase trial and brand awareness. We are
also excited about adding Chris and Rob to our management team. Their addition
to our team will enable us to focus more on local store marketing and to insure
that we are developing our restaurant management team as we continue to grow."
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This information contains forward-looking statements within the meaning of
Section 27A of The Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking statements
reflect management's expectations based upon currently available information and
data; however, actual results are subject to future events and uncertainties,
which could cause actual results to materially differ from those projected in
these statements. Factors that can cause actual results to materially differ
include: additional unforeseen costs, expenses which may be incurred with
respect to the change of the Papa John's slogan as a result of Papa John's
International, Inc.'s litigation with Pizza Hut, Inc.; increased advertising,
promotions and discounting by competitors which may adversely affect sales; the
ability of the Company to open new restaurants and operate new and existing
restaurants profitably; increases in food, labor, employee benefits and similar
costs; economic and political conditions in the territories in which the Company
operates; and new product and concept development by food industry competitors.
Further information regarding factors that could affect the Company's financial
and other results is included in the Company's forms 10-Q and 10-K, filed with
the Securities and Exchange Commission.
