Total Revenue Increases by 185 %
Company Continues Successful Franchise
Expansion Across the U.S.
LAGUNA HILLS, Calif., Nov. 16, 2006 (PRIMEZONE) -- Melt Inc. (OTCBB:MLTC), owner, operator and franchisor of quick service restaurants operating under the name "Melt Gelato & Crepe Cafe," has reported its financial results for the three months ended September 30, 2006, and the first nine months of fiscal 2006.
Management is pleased to report the following for the nine months ending September 30, 2006:
-- $2,513,905 in total revenues representing a 185% increase
compared to $882,344 in the prior fiscal year.
-- $152,609 profit from operations representing a 1,765% increase
compared to the profit of $8,183 in the prior fiscal year.
-- $146,294 net income compared to loss of $138,962 in the prior
year.
Management is pleased to report the following for the three months ending September 30, 2006:
-- $1,548,773 in total revenues representing a 158% increase
compared to $599,885 in the prior fiscal year.
-- $191,543 profit from operations representing a 23% increase
compared to profit of $156,261 in the prior fiscal year.
-- $147,588 net profit representing a 21% increase compared to a
profit of $121,548 in the prior year.
Melt's management team is pleased with the results, especially after generating revenue increases of 274% for 2005 as compared to 2004.
"Through the third quarter and first nine months of 2006, the Melt concept has really started to catch on and grow across the nation," said Clive Barwin, Melt Inc.'s President and CEO. "During the quarter, we announced our first store opening outside of California in Phoenix, Arizona, as well as store openings in major shopping malls in densely populated areas like San Francisco and Topanga, California. With our simple concept of offering fresh, quality and new products like gelato, crepes and more in a fun environment -- together with a unique marketing approach -- we are providing our customers with a truly memorable experience that will keep them coming back, as well as a great business opportunity for our franchisees."
A "Cool" Opportunity
"Melt Gelato & Crepe Cafe" offers a tremendous franchise opportunity, ideal for individuals who have strong business management skills, a positive attitude, and a desire to become part of something very exciting.
Melt began selling franchises in June 2005. By year end, Melt expects to have stores open in Northern California, Arizona, Missouri, Ohio, Florida, and Connecticut. In 2007 Melt expects to have stores open in Washington, New York, Massachusetts, Illinois and Georgia.
"We are pleased with the growth we have experienced so far, and we feel we are in a great position to continue this growth and support it properly," added Barwin. "The infrastructure, from our management team down to our streamlined business information systems, is all in place and we remain focused on driving value for our franchisees, as well as our shareholders. Our business model has proven to be very successful for our franchisees and our customers love our products and the total experience they get when they enter a 'Melt Gelato & Crepe Cafe.' Our team is highly motivated and excited to capture the tremendous business opportunity that lies ahead."
To learn more about Melt Inc. please visit the Company's corporate Web site at http://www.meltgelato.com.
About Melt Inc.
Melt Inc., and its subsidiaries, are in the business of owning, operating and franchising quick service restaurants marketed under the name "Melt Gelato & Crepe Cafe." The Company's main product offerings include Italian gelato and sorbetto, sweet and savory crepes, gourmet Italian cafe, and nutritious smoothies made from 100% crushed fruit.
The Melt concept leverages the universal appeal and enormous volume of ice cream sales and consumption in the United States and around the world. Melt provides its customers with a unique purchase experience in a European atmosphere. Gelato is an authentic Italian dessert that has been popular for hundreds of years in Europe where it is available on almost every street corner. The gelato industry in the United States is in its infancy and Melt has the opportunity to dominate this rapidly growing niche industry.
Melt offers its franchisees dedicated support through marketing and merchandising tools, excellent product and streamlined operational procedures that make running a Melt franchise an exciting and rewarding business experience. Since being founded in 2003 after years of research and development, Melt has rapidly grown from one store to twenty-one (open and under construction) with major expansion plans ahead. Melt Inc. is headquartered in Laguna Hills, California.
Safe Harbor Statement
Certain statements in this release are "forward-looking" and as such are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to differ materially amongst other risks and uncertainties include Melt's ability to sell further franchises, the impact of competition, the ability to find suitable retail locations, additional capital needs and other risks outlined in Melt's quarterly reports on Form 10-QSB, annual reports on Form 10-KSB and Melt's other disclosure documents filed from time-to-time with the Securities and Exchange Commission.