This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Papa John’s Announces First Quarter 2012 Results


As previously announced, effective April 23, 2012, the company acquired 56 franchised Papa John’s restaurants in the Denver and Minneapolis markets, six of which were subsequently refranchised. The purchase price, which was paid in cash, was $5.1 million net of the divestiture proceeds from the six restaurants sold. The acquisition is not expected to have a material impact on our 2012 operating results.

Share Repurchase Activity

The company repurchased 372,000 shares of its common stock at an average price of $37.19 per share, or a total of $13.8 million, during the first quarter ended March 25, 2012. Subsequent to quarter-end through April 25, 2012, the company repurchased 264,000 shares at an average price of $37.63 per share, or a total of $9.9 million. Approximately $47.8 million remains available under the company’s share repurchase program.

There were 24.4 million diluted weighted average shares outstanding for the first quarter, representing a decrease of 5.1% over the prior year comparable period. Diluted earnings per share increased $0.04 for the first quarter of 2012 due to the reduction in shares outstanding, resulting from the share repurchase program. Approximately 23.9 million actual shares of the company’s common stock were outstanding as of March 25, 2012.

2012 Earnings Guidance Update

The company raised its 2012 guidance for diluted earnings per share and international comparable sales based on solid first quarter results and reaffirmed all other guidance. The update is as follows:
Updated Guidance Previous Guidance
Diluted earnings per share (a) $2.40 to $2.50 $2.33 to $2.43
International comparable sales +2.5% to +4.5% +1.5% to +3.5%


The 2012 fiscal year will consist of 53 weeks. The impact of the 53 rd week of operations is expected to increase earnings per share by approximately $0.08 to $0.10, substantially offsetting the decrease in 2012 from the Incentive Contribution previously discussed.

The company also announced a change in its policy for providing guidance related to key operating assumptions and earnings. Effective at the end of 2012, the company no longer plans to issue a separate press release in December to announce key operating assumptions and earnings guidance for the following year. Instead, the company now plans to include such guidance with the fourth quarter and full year earnings press release, generally issued in February. Please visit the investor relations section of our website for a list of upcoming earnings press release and earnings conference call dates for fiscal 2012 results.

6 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.94 -0.73%
FB $117.58 -0.41%
GOOG $701.05 0.77%
TSLA $212.83 -4.40%
YHOO $36.95 2.60%


Chart of I:DJI
DOW 17,617.67 -33.59 -0.19%
S&P 500 2,050.82 -0.30 -0.01%
NASDAQ 4,724.2070 -1.4320 -0.03%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs