Domino's Pizza, which counts Ireland as one of its most profitable markets in terms of sales, reported a higher-than-expected quarterly profit today.
Net income rose to $23.6 million, or 41 cents per share, in the fourth quarter ended January 3rd, up from $11 million, or 19 cents, in the year-earlier period.
Sales outside of the US now account for nearly half of Domino's overall retail sales and of about 8,900 Domino’s Pizza outlets worldwide, eight of the top 10 stores in terms of sales come under the umbrella of Domino’s Pizza UK Ireland.
The Ann Arbor, Michigan-based Domino's had 53 weeks in its 2009 retail calendar, one more week than in 2008. Excluding an 11-cent boost from that extra week and other items, Domino's earned 30 cents per share for the most recent quarter.
Analysts were expecting profit per share of 25 cents.
Total revenue rose 8.1 percent to $462.9 million, due in part to the extra week of sales in the fourth quarter. Domestic same-store sales rose 1.4 per cent and international sales at established restaurants rose 3.9 per cent.
During the fourth quarter, Domino's repurchased and retired $49.2 million of its debt, which resulted in pre-tax gains of about $7.9 million.
The company, which does not provide quarterly or annual revenue or profit forecasts, expects long-term domestic same-store sales growth of 1 per cent to 3 per cent and international same-store sales rising 3 per cent to 5 per cent.
Reuters