- Domestic System-Wide Same-Store Sales Increases 1.8% With Company Same-Store Sales Growing 3.2% -
- Completed 16 Heritage Remodels at Company Restaurants -
- Repurchased 1.4 Million Shares -SPARTANBURG, S.C., April 28, 2014 (GLOBE NEWSWIRE) -- Denny's Corporation (Nasdaq:DENN), franchisor and operator of one of America's largest franchised full-service restaurant chains, today reported results for its first quarter ended March 26, 2014. First Quarter Summary
- Domestic system-wide same-store sales increased 1.8%, comprised of a 3.2% increase at company restaurants and 1.5% increase at domestic franchised restaurants.
- Completed 47 remodels at company and franchise restaurants, including 29 Heritage remodels.
- Opened four franchised restaurants, including one international location.
- Adjusted EBITDA* of $16.4 million, or 14.6% of total operating revenue, includes the impact from the temporary closure of the highest volume company operated restaurant.
- Net Income was $6.4 million, or $0.07 per diluted share, compared with prior year quarter Net Income of $7.1 million, or $0.07 per diluted share.
- Generated $6.7 million of Free Cash Flow* net of remodel investments at company restaurants.
- Repurchased 1.4 million shares for $9.1 million with 7.9 million authorized shares remaining.
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