- System-wide same-store sales grew 0.4%, which marks the sixth consecutive quarter that system-wide same-store sales have been positive.
- Opened 12 franchised units, including the first international university unit located in Canada at the Southern Alberta Institute of Technology.
- Signed first international development agreement in South America for 10 units in Chile.
- Franchise operating margin increased $1.0 million to $22.3 million while franchise operating margin (as a percentage of franchise and license revenue) was 64.9%.
- Company restaurant operating margin increased 0.6 percentage points to 14.7% compared with the prior year, and was impacted by $1.3 million for unfavorable workers’ compensation claims development.
- Adjusted Income Before Taxes* grew 9.3% to $13.1 million compared with the prior year.
- Net income of $5.4 million, or $0.06 per diluted share, was impacted by $2.5 million in impairment expense and $1.3 million for unfavorable workers’ compensation claims development.
- Generated $12.9 million of Free Cash Flow* in the quarter which was used to reduce outstanding term loan debt by $7.0 million and repurchase 1.0 million shares.
Denny’s Corporation Reports Results For Third Quarter 2012
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