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PORTLAND-Coming off a year of solid earnings growth, Elmer’s Restaurants Inc. is committed to adding 20 new franchise locations over the next three years.

Brice Davis, the company’s chairman, says the commitment following the successful opening of nine new restaurants over the past 18 months. “We will continue to focus this growth along the I-5 corridor from California to Canada and to move into eastern and southern Oregon and Washington,” says Davis. “Additional units are targeted for Idaho and Utah.”

For its fiscal year ended April 1, the company today is reporting annual net income of $1.06 million on record revenues of $33.8 million. In the prior year, the company produced net income of $956,000 on sales of $25.9 million. In this year’s fourth quarter, the company produced profits of $252,000 on revenues of $7.4 million. In last year’s fourth quarter, the company reported a profit of $186,000 on revenues of $7.4 million.

“Despite a difficult economic environment, we achieved another record year in revenues, earnings, and cash flow,” says Davis. “We are now seeing evidence of improving business conditions.”

Elmer’s currently owns and operates 10 Elmer’s restaurants and franchises 22 restaurants in six western states. The Company also owns and operates five Mitzel’s American Kitchen restaurants in Puget Sound, Washington and 10 deli-style restaurants in Oregon.

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