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NPC posts loss for quarter, year, on discontinued operations
March 26, 2009
OVERLAND PARK, Kan. -- Comparable store sales at NPC International, the largest Pizza Hut franchisee, declined 3.4 percent in the company's fourth quarter ended Dec. 30, compared with increase of 4.1 percent in 2007. For the year, comps were up 2 percent, compared with an increase of 3.5 percent last year.
Revenues for the quarter were $197.2 million, up 29 percent compared with revenues of $152.9 million for the 2007 fourth quarter. For the year, revenues were $689.7 million, up 13 percent compared with revenues of $611.3 million in 2007.
The company's 2008 fiscal year was comprised of 53 weeks of operations, while fiscal 2007 contained 52 weeks.
NPC ran a loss of $25.4 million in the fourth quarter compared with net income of $2.1 million in the 2007 fourth quarter. For the year, the company ran a loss of $18.1 million compared with net income of $7.8 million the previous year.
The company attributed the loss to discontinued operations associated with the sale of 112 Pizza Hut units.
NPC operates 1,158 Pizza Hut restaurants and delivery units in 28 states.
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