Domino's Pizza's 2002 sales rise 2.6%

March 3, 2003

ANN ARBOR, Mich. -- Domino's, Inc., announced that the company posted record earnings and system-wide sales for the fiscal year ended Dec. 29, 2002.

According to a release, the chain's full-year domestic same-store sales grew 2.6 percent (franchise sales rose 3 percent, while company store sales were flat), and international same-store sales increased 4.1 percent, on a constant dollar basis.

Systemwide sales were $3.96 billion, the company's highest-ever figure.

Net income for the period increased 64.9 percent to $60.7 million, while earnings before interest, taxes, depreciation and amortization (EBITDA) increased 16.7 percent to a record $189.3 million.

Domino's attributed the systemwide sales increase to growth in worldwide store counts and increases in both domestic and international same-store sales.

According to Domino's, total revenues (largely made up of company store sales, franchise royalties and sales of food and equipment), were $1.275 billion, and were offset in part by a decrease in revenues (due to reduced cheese costs) from domestic distribution operations.

As of Dec. 29, there were 7,230 Domino's units operating worldwide, comprised of 577 domestic company-owned stores, 4,271 domestic franchised stores and 2,382 international stores.

Four the fourth quarter 2002, ended Dec. 29, domestic same-store sales were flat (comprised of a domestic franchise comp-sales increase of 0.6 percent and a domestic company-owned comp-sales decrease of 4.1 percent).

International same-store sales rose 3.8 percent, on a constant dollar basis, marking the 36th consecutive quarter of international same-store sales growth.

System-wide sales for the period increased 2.9 percent to $1.2 billion, net income increased 90.3 percent to $23.1 million, and EBITDA increased 17.6 percent to $62.1 million.

In the release, the company said a 2002 NPD Crest report noted Domino's share in the U.S. pizza delivery market grew nearly a point last year, to 19.9 percent.

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