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After two years of costly growth, Captain Tony's Pizza Inc. has begun to profit from its expansion.
The pizza franchise company posted net income of $10,907 on sales of $3.9 million for the year ended June 30, compared with a net loss a year earlier of $159,353.
In 1988, Captain Tony's lost $350,000.
"What they have done is really good," said David Dewind, an account executive at Brighton Securities Corp., a market maker for Captain Tony's stock. "Plans that have taken a while are now showing results in black and white."
Moreover, Captain Tony's has managed to stay out of debt. It is "virtually debt-free," said Vice President Michael H. Martella. The firm's financial position bodes well for future growth, Dewind said.
Captain Tony's earlier losses stemmed...