DineEquity Moves To 3Q Profit Despite Sales Drop

GLENDALE, Calif. (AP) — Applebee's and IHOP restaurant owner DineEquity Inc. on Tuesday said it moved to a third-quarter profit even as sales fell.

DineEquity earned $7.9 million, or 46 cents per share, compared with a loss of $16.4 million, or 98 cents per share, in the third quarter a year earlier.

The latest quarter's results reflected fewer writedowns, lower interest as the company paid off debt, lower operating expenses and better margins. DineEquity also reduced its company restaurant expenses to $179.3 million from $236.4 million. ...