Traverse City Record-Eagle

Business

October 16, 2013

Domino's Pizza 3Q profit rises

ANN ARBOR (AP) — Domino’s Pizza Inc.’s fiscal third-quarter net income climbed 18 percent, bolstered by strong sales in the U.S and abroad.

THE DETAILS: The company said Tuesday that sales at U.S. restaurants open at least a year rose 5.4 percent. The figure increased 5 percent overseas — the 79th straight quarter of international growth in the metric.

Sales at restaurants open at least a year is a gauge of a restaurant operator’s health because it excludes results from locations recently opened or closed, thereby measuring growth at ongoing locations.

THE NUMBERS: The chain earned $30.6 million, or 53 cents per share, for the period ended Sept. 8. That compares with $26 million, or 44 cents per share, last year. Removing a tax benefit, earnings were 51 cents per share. Revenue increased 7 percent to $404.1 million from $378.1 million.

Analysts, on average, expected earnings of 52 cents per share on revenue of $402.4 million, according to FactSet.

THE STOCK: Domino’s stock slid $1.48, or 2 percent, to $67.37 in premarket trading. Shares closed at $68.85 on Monday, up 58 percent since the start of the year. Over the past year, the shares have traded in a range of $38.98 to $69.92.

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