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TheStreet Open House

Papa John’s Announces Fourth Quarter And Full Year 2012 Results

Papa John’s International, Inc. (NASDAQ: PZZA) today announced financial results for the fourth quarter and fiscal year ended December 30, 2012.

Highlights

  • System-wide comparable sales increased 5.2% for North America and 7.0% for International for the fourth quarter; System-wide comparable sales increased 3.6% for North America and 7.1% for International for the full year
  • Earnings per diluted share of $0.74 for the fourth quarter, an increase of 13.8% over restated earnings per diluted share of $0.65 for 2011; Earnings per diluted share of $2.58 for the full year, an increase of 19.4% over restated earnings per diluted share of $2.16 for 2011
  • Earnings per diluted share includes an $0.11 benefit from a 53 rd week of operations for both the fourth quarter and the full year
  • Global net restaurant openings included 134 restaurants for the fourth quarter and 280 restaurants for the full year
  • Share repurchase authorization increased by $50 million in December 2012 and an additional $50 million in February 2013

“We are very pleased with our 2012 results, highlighted by our ninth consecutive year of even or positive comparable sales growth,” said Papa John's founder, chairman and chief executive officer, John Schnatter. “Growing EPS by almost 20% and expanding our global footprint in a very competitive environment is not only a testament to the strength of our system but to the power of our brand.”

Fourth quarter 2012 revenues were $367.3 million, a 19.9% increase from fourth quarter 2011 revenues of $306.2 million. Fourth quarter 2012 net income was $17.4 million compared to restated fourth quarter 2011 net income of $15.9 million. Fourth quarter 2012 diluted earnings per share were $.74, compared to restated fourth quarter 2011 diluted earnings per share of $.65.

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