Home / Markets / Industries / Retail
Wednesday, November 04, 2009
Papa John’s Revenue Drops 5.7%, Profits Exceed Expectations
FOXBusiness
Papa John's Pizza (PZZA) reported a 5.7% drop in revenue for the third quarter, but profits exceeded analyst expectations.
Excluding one-time charges, the company earned 30 cents per share, beating the Thomson Reuters analyst expectation of 26 cents per share.
Revenue totaled $263.9 million, which missed analysts predictions of $270.8 million. The decline was due in part to the sale of 62 non-performing restaurants.
Net income for the quarter totaled $11.7 million, or 42 cents per share, up from $7.7 million or 28 cents per share in the year prior.
Papa John’s largest competitors are Domino’s Pizza (DPZ) and Pizza Hut, which is owned by Yum Brands (YUM).
Papa John's shares fell 10% to $22.97.
Fox Business Video
-
-
The Crisis With 20/20 Hindsight
-
Nov 21, 2009
FOXBusiness.com LIVE
-
-
-
Jerry Rice Talks Career
-
Nov 21, 2009
NFL Receiver on career on the gridiron
-
-
-
John O'Hurley as Venture Capitalist
-
Nov 21, 2009
Comedian on life as venture capitalist
-
-
-
Excess Spending in Congress
-
Nov 21, 2009
Saving $100 Million
-
-
-
Cavuto Business Report 11-20-09
-
Nov 21, 2009
Business Report: Cavuto
-
