News
Papa John's passes $1 billion mark
February 27, 2007
LOUISVILLE, Ky. — Comparable-store sales at Papa John's International Inc. decreased 0.5 percent in the fourth quarter, but increased 3.1 percent for the year, the country's third-largest pizza company announced.
Revenues for the fourth quarter were $277.9 million, up 12 percent from revenues of $248.4 million for the same period in 2005.
Revenues for the year topped $1 billion, a 3 percent from 2005 revenues of $968.8 million.
Papa John's net income for the fourth quarter was $19 million, up 32 percent from net income of $14.4 million in the fourth quarter of 2005. Net income for the year was $63.4 million, up 38 percent compared with last year's net income of $46.1 million.
Papa John's board approved a $50 million increase in the company's share repurchase program. The company is now authorized to repurchase $675 million of its common stock.
Papa John's added a net 37 new restaurants in the fourth quarter and 89 for all of 2006. As of Dec. 31, there were 3,015 Papa John's restaurants operating in 49 states and 26 countries, consisting of 588 company-owned and 2,427 franchised restaurants.
Related Media
Subscribe
Get the latest news and resources from Pizza Marketplace.
