"We have a long and proud history of comparable store sales growth at NPC as this marks only the fourth quarter in the last 43 quarters that we have reported a comparable store sales decline," said NPC CEO Jim Schwartz. "Obviously we take this challenge seriously and we are fully committed to working with the leadership team at Pizza Hut to return NPC and our brand to positive comparable store sales territory during these exceptionally difficult economic times."
Revenue for the quarter was $232.3 million, up 41 percent compared with revenue of $164.8 million for the 2008 first quarter. Net income for the quarter was $6 million, up 43 percent compared with net income of $4.2 million for the same period last year.
The company acquired 105 Pizza Hut units and sold 42 units during the quarter in three transactions with Pizza Hut Inc.