UNITED STATES
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: (Date of Earliest Event Reported):
March 31, 1999
THE QUIZNO'S CORPORATION
(Exact name of registrant as specified in its charter)
Colorado 000-23174 84-1169286
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1099 18th Street, Suite 2850, Denver, Colorado, 80202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 291-0999
Item 5. Other Events. Other event
Press release regarding Quizno's posts profit.
Exhibit No. Description Reg. S-K Item No.
*99.1 Press release 99
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.
THE QUIZNO'S CORPORATION
Date: March 31, 1999 By:/s/ John L. Gallivan
John L. Gallivan, Chief Financial Officer
<PAGE>
EXHIBIT INDEX
Exhibit No. Description Reg. S-K Item No.
*99.1 Press release 99
For Release 4 p.m. MT Wednesday, March 31, 1999:
QUIZNO'S(R) Posts Profit
DENVER, Colo. - The Quizno's Corporation (Nasdaq: QUIZ), which franchises and
owns and operates QUIZNO'S Classic Subs restaurants, announced it posted
earnings after preferred stock dividends of $891,725, or $.26 per share
(diluted) in the year ending December 31, 1998.
The earnings reflect the recognition of a tax benefit of $368,553, which is a
non-recurring item related to net operating losses in prior years.
Company revenue was $20.7 million for the year and system wide sales were $102.3
million for the chain.
A total of 195 QUIZNO'S restaurants opened in the U.S. and Canada, bringing the
total number of QUIZNO'S locations to just under 500. Eight of the openings were
conversions to QUIZNO'S from Sub & Stuff locations, a Wichita chain that the
Company acquired in mid-1998.
QUIZNO'S, an Italian-style deli which serves signature oven baked Classic Subs,
has grown from 18 restaurants in Denver in 1991 to more than 500 restaurants
open in the United States, Puerto Rico, Canada and Japan today.
This release contains forward-looking statements (as defined in the Private
Securities Litigation Reform Act of 1995) that are subject to risks and
uncertainties that could cause actual results to differ materially from those
set forth in the forward-looking statements. Such risks and uncertainties
include the effect of national and regional economic and market conditions, the
eating habits of the American, Canadian and Japanese public, cost of labor and
employee benefits, cost of marketing, intensity of competition for locations as
well as customers, perception of food safety, legal claims and the availability
of financing for the Company and its franchisees. Such risks are detailed from
time to time in the Company's reports filed with the SEC, including the report
on Form 10-KSB for the year ended December 31, 1998.
For More Information Contact:
Sue Hoover, Executive Vice President of Marketing
The Quizno's Corporation
303-291-0999, ext. 3242
