Ann Arbor / MG. (dp) Domino´s Pizza Inc., the recognized world leader in pizza delivery, announced results for the first quarter of 2015, comprised of strong same store sales results and store count growth, which resulted in robust EPS growth. Domestic same store sales grew 14.5 percent during the quarter versus the year-ago period, continuing the positive sales momentum in the Company´s domestic business. The international division also posted strong results with quarterly same store sales growth of 7.8 percent, marking the 85th consecutive quarter of international same store sales growth. The Company had global net store growth of 110 stores in the first quarter of 2015.
Diluted EPS was 81 cents for the first quarter, which was up 14.1 percent over the Company´s reported EPS in the prior year quarter, and up 19.1 percent over the Company´s adjusted EPS in the prior year quarter. During the quarter, the Company repurchased 290’877 shares of its common stock for approximately 29.5 million USD. The Board of Directors also declared a 31-cent per share quarterly dividend for shareholders of record as of June 15, 2015, to be paid on June 30, 2015.
J. Patrick Doyle, Domino´s President and Chief Executive Officer, said: «We had an outstanding start to 2015. Strong global sales, store growth and technology advancements all demonstrated the fundamental strength of the Domino´s brand».
First Quarter Highlights
- Revenues were up 10.6 percent for the first quarter versus the prior year period, due primarily to higher supply chain revenues from increased volumes and increased sales of equipment to stores in connection with the Company´s store re-imaging program. Increased domestic franchise and Company-owned store revenues and higher international revenues resulting from both same store sales and store count growth also contributed to this increase.
- Net Income was up 14.4 percent for the first quarter versus the prior year period, driven by domestic and international same store sales growth, global store count growth and higher supply chain volumes. This was offset in part by the negative impact of foreign currency exchange rates.
- Diluted EPS was 81 cents for the first quarter versus 71 cents in the prior year quarter. The diluted EPS of 81 cents for the quarter was 13 cents, or 19.1 percent higher than the prior year quarter´s adjusted EPS of 68 cents.
Share Repurchases
During the first quarter of 2015, the Company repurchased and retired 290’877 shares of its common stock under its open market share repurchase program for approximately 29.5 million USD, or an average price of 101.46 USD per share. Subsequent to the first quarter of 2015 and through April 16, 2015, the Company repurchased and retired 177’695 shares of its common stock for approximately 18.0 million USD, or an average of 101.49 USD per share. As of April 16, 2015, the Company had approximately 85.2 million USD remaining under the program.
Dividends
On April 21, 2015, the Board of Directors declared a 31 cent per share quarterly dividend for shareholders of record as of June 15, 2015, to be paid on June 30, 2015.
