News
Papa John's comps dip in second quarter
August 8, 2007
LOUISVILLE, Ky. — Domestic comparable-store sales at Papa John's International Inc. restaurants decreased 1.1 percent for the second quarter ended July 1, composed of a 1.5-percent decrease at company-owned restaurants and a 0.9-percent decrease at franchised restaurants. Domestic system-wide comparable sales for the year to date decreased 0.4 percent, composed of a 0.4-percent decrease at both company-owned and franchised restaurants.
Worldwide system sales increased 2.1 percent to $527.1 million for the second quarter and increased 3.1 percent to $1.1 billion for the first six months of the year.
Second-quarter revenues at Papa John's were $256.3 million, up 6 percent compared with revenues of $241.6 million for the same period in 2006. Year-to-date revenues were $516.9 million, up 7 percent compared with revenues of $483.9 million for the first six months of last year.
Net income for the second quarter was $7 million, including an after-tax loss of $5.3 million from the consolidation of the results of the franchisee-owned cheese-purchasing entity. Net income for the second quarter of 2006 was $15.3 million, including an after-tax gain of $4 million from the consolidation of the cheese-purchasing entity.
Net income for the year was $20.2 million, including a net loss of $5.5 million from the consolidation of the cheese-purchasing entity, compared with net income of $31.3 million, including a gain of $7.4 million from the consolidation of the cheese-purchasing entity.
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