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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000718332-03-000013.txt : 20030905
<SEC-HEADER>0000718332-03-000013.hdr.sgml : 20030905
<ACCEPTANCE-DATETIME>20030904182247
ACCESSION NUMBER:		0000718332-03-000013
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030903
ITEM INFORMATION:		Changes in control of registrant
FILED AS OF DATE:		20030905

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIZZA INN INC /MO/
		CENTRAL INDEX KEY:			0000718332
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-GROCERIES & RELATED PRODUCTS [5140]
		IRS NUMBER:				470654575
		STATE OF INCORPORATION:			MO
		FISCAL YEAR END:			0626

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-12919
		FILM NUMBER:		03882325

	BUSINESS ADDRESS:	
		STREET 1:		5050 QUORUM DR STE 500
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240
		BUSINESS PHONE:		2147019955

	MAIL ADDRESS:	
		STREET 1:		5050 QUORUM DR STE 500
		STREET 2:		5050 QUORUM DR STE 500
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75240

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PANTERAS CORP
		DATE OF NAME CHANGE:	19901126

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CONCEPT DEVELOPMENT INC
		DATE OF NAME CHANGE:	19870212
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>doc1.txt
<TEXT>
                       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: September 4, 2003


                                 PIZZA INN, INC.

             (Exact name of registrant as specified in its charter)



          MISSOURI                    0-12919               47-0654575
(State  or  other  jurisdiction     (Commission      (I.R.S.  Employer
of incorporation or organization) File Number) Identification  Number)


                    3551 PLANO PARKWAY, THE COLONY, TX 75056

               (Address of principal executive offices)(zip code)



      Telephone number of registrant, including area code:  (469) 384-5000




                             ----------------------
<PAGE>
ITEM  5.

See  attached  Exhibit  1.

                                   SIGNATURES


     Pursuant to the requirements of the Securities and Exchange Act of 1934, as
amended,  the  Registrant has duly caused this report to be signed on its behalf
by  the  undersigned  hereunto  duly  authorized.




                              PIZZA  INN,  INC.


                              By:  /s/ Ronald W. Parker
          Ronald  W.  Parker,  Chief  Executive  Officer

Date:     September  4,  2003





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>3
<FILENAME>doc2.txt
<TEXT>






                     P  R  E  S  S      R  E  L  E  A  S  E

                              FOR IMMEDIATE RELEASE



                PIZZA INN ANNOUNCES 4TH QUARTER FINANCIAL RESULTS


THE  COLONY,  TEXAS  -SEPTEMBER  4,  2003-  PIZZA  INN, INC. (NASDAQ:PZZI) today
reported  net income for its fourth quarter ended June 29 of $522,000 or 5 cents
a  share,  compared to a net loss of $498,000, or 5 cents a share a year ago, on
revenues  of  $14.1  million  versus $18.1 million in the previous year. The net
loss  for the quarter ended June 30, 2002 was primarily attributable to a pretax
charge  of approximately $1.9 million to reserve for the possible nonpayment for
a  note receivable owed to the Company from the Company's former Chief Executive
Officer.  The  Company  received  payment  in  full  for  the note receivable in
December  2002.  The fourth quarter ended June 30, 2002 included 14 weeks versus
13  weeks  for  the  same  quarter  this  year.

For  fiscal  year  2003,  earnings  per share were 31 cents versus 11 cents last
year.  Net  income  was  $3,093,000  compared to $1,137,000 on revenues of $58.8
million  versus  $66.6  million  last  year.  Revenues consist of gross sales of
Norco, the Company's food and equipment division, franchise fees, and royalties.
Comparable  chainwide  same  store  sales  finished  down 5.7% for the year. Net
income  for the year ended June 29, 2003 includes a pretax gain of approximately
$1.9  million  for  the  recovery of the note receivable described above. Fiscal
2002  included  53  weeks  versus  52  weeks  in  fiscal  2003.


                      P R  E  S  S      R  E  L  E  A  S  E


Pizza  Inn,  Inc.                        For  more  information  contact:
3551  Plano  Parkway                     Ronald  W.  Parker
The  Colony,  TX  75056               President  and  Chief  Executive  Officer
(469)  384-5000


For  more  information  about  the  company, visit Pizza Inn at www.pizzainn.com
                                                                ----------------

<TABLE>
<CAPTION>

                                 PIZZA INN, INC.
               (In thousands, except share and per share amounts)




4TH QUARTER
- -------------------------------------

                                           June 29,     June 30,
<S>                                    <C>          <C>
                                              2003         2002
                                       -----------  ------------
Revenue . . . . . . . . . . . . . . .  $    14,059  $    18,061

Income (loss) before taxes. . . . . .  $       747        ($755)

Net Income (Loss) . . . . . . . . . .  $       522        ($498)

Diluted earnings (loss) per share . .  $      0.05       ($0.05)

Basic earnings (loss) per share . . .  $      0.05       ($0.05)

Weighted average shares outstanding:
   Diluted. . . . . . . . . . . . . .   10,060,528   10,058,094
   Basic. . . . . . . . . . . . . . .   10,058,674   10,058,094




TWELVE MONTHS
- -------------------------------------

                                          June 29,.. .  June 30,
                                              2003         2002
                                       -----------  ------------
Revenue . . . . . . . . . . . . . . .  $    58,782  $    66,642

Income before taxes . . . . . . . . .  $     4,643  $     1,723

Net Income. . . . . . . . . . . . . .  $     3,093  $     1,137

Diluted earnings per share. . . . . .  $      0.31  $      0.11

Basic earnings per share. . . . . . .  $      0.31  $      0.11

Weighted average shares outstanding:
   Diluted. . . . . . . . . . . . . .   10,060,729   10,095,085
   Basic. . . . . . . . . . . . . . .   10,058,475   10,091,817


</TABLE>









</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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