- System-wide same-store sales grew 0.8%, which marks the fifth consecutive quarter that system-wide same-store sales have been positive, achieving two-year same-store sales of positive 2.8%.
- Opened nine franchised units, including two international units in the Dominican Republic and Canada.
- Signed largest international development agreement to date for 50 units in southern China.
- Franchise operating margin increased 0.8 percentage points to 66.0% compared with the prior year.
- Company restaurant operating margin increased 1.5 percentage points to 14.8% compared with the prior year.
- Adjusted EBITDA* margin increased 1.7 percentage points to 17.0% compared with the prior year.
- Net income of $4.6 million, or $0.05 per diluted share, was impacted by a charge to other nonoperating expense of $7.9 million as a result of the refinancing of our credit facility in April 2012.
- Adjusted Income Before Taxes* grew 34.6% to $12.9 million compared with the prior year.
- Free Cash Flow* increased 14.5% to $15.0 million compared with the prior year.
- Reduced outstanding term loan debt by $7 million to $183 million bringing Total Debt to Adjusted EBITDA Ratio below 2.5x.
- Repurchased 1.4 million shares in the second quarter bringing total shares repurchased since November 2010 to 8.1 million.
Denny’s Corporation Reports Results For Second Quarter 2012
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