News
Domino's net off 91 percent on recap charges
July 23, 2007
ANN ARBOR, Mich. — Domestic comparable-store sales at No. 2 pizza chain Domino's Pizza Inc. rose 2.1 percent for the second quarter ended June 17, compared with a 4.9 percent decline in the second quarter of last year, the company announced.
International comps rose 3.9 percent, compared with an increase of 5.7 percent for the same period last year.
Revenues at the pizza chain rose 3.8 percent to $340.3 million, compared with revenues of $327.7 million for last year's second quarter. Year-to-date revenues were $679.6 million, up slightly compared with revenues of $675.4 million for the first two quarters of last year.
Second-quarter net income for the chain was $2.3 million, down 91 percent compared with net income of $24.5 million for the second quarter of 2006.Domino's officials attributed the profit decline to charges related to the company's recent recapitalization.
Year-to-date net income was $10.7 million, down 79 percent compared with net income of $50.7 million for the first six months of last year.
Read also, Domino's declares special dividend.
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