Domino’s Pizza (DPZ) cooked up a 2.3% increase in its fiscal fourth-quarter profits amid rising sales, matching Wall Street’s expectations.
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The Ann Arbor, Mich.-based pizza delivery network said Tuesday it earned $24.2 million, or 39 cents a share, last quarter, compared with a profit of $23.6 million, or 41 cents a share, a year earlier. Excluding one-time items, it earned 40 cents a share, meeting consensus calls from analysts.
Revenue rose 3.7% to $480 million, compared with the Street’s view of $484 million. Operating margins increased to 28.4% from 27.9%.
"In 2010, we demonstrated that we're a new Domino's. In the U.S., our decision to improve our pizza, and the success that resulted from it, allowed us to build a new base of customers and a stronger base of business from which to grow,” CEO J. Patrick Doyle said in a statement.
Domino’s said its same-store sales grew 6.3% domestically and jumped 9% internationally.
The pizza company’s stock slipped 1.3% to $16.65 Tuesday morning, eating into its 2011 gain of nearly 6%. The stock has rallied 32% over the past year.