Domino´s Pizza: Announces 2012 Financial Results

Ann Arbor / MG. (dp) Domino´s Pizza Inc., the recognized world leader in pizza delivery, announced results for the fourth quarter and fiscal 2012, comprised of strong EPS and global store count growth and positive same store sales. Historically consistent cash generation also enabled the Board of Directors to declare a regular dividend. Domestic same store sales grew 4,7 percent during the fourth quarter versus the year-ago period and 3,1 percent for the full year, continuing the positive sales momentum in the Company´s domestic business. International also posted strong results with same store sales growth of 5,2 percent for both the quarter and full year periods. The fourth quarter marked the 76th quarter – or 19th full year – of consecutive quarterly international same store sales growth for the division. The Company also had global net store growth of 513 stores in 2012, led by a record 492 net new stores internationally, along with 21 net new domestic stores.

Fourth quarter diluted EPS was 64 cents, up 23,1 percent over the Company´s EPS in the prior year quarter. Diluted EPS, as reported, was 1,91 USD for fiscal 2012, up twelve percent over the as reported EPS in the prior year. Diluted EPS, as adjusted, was 2,02 USD for fiscal 2012, up nearly 20 percent over the as adjusted diluted EPS in the prior year. The Company also repurchased and retired 1’136’648 shares of its common stock for 45,5 million USD during the quarter and repurchased and retired 2’472’863 shares of its common stock for 88,2 million USD in fiscal 2012.

On February 27, 2013 the Board of Directors declared a 20-cent quarterly dividend for shareholders of record as of March 15, 2013 to be paid on March 29, 2013.

J. Patrick Doyle, Domino´s President and Chief Executive Officer, said: «Our performance in 2012 was yet another example of the consistent results we have delivered to our shareholders. Our strong global brand is driving a robust record of same store sales growth, new store openings and technological innovation that is building our business globally».

Doyle continued, «The Board´s initiation of a regular quarterly dividend, in addition to our intention to continue share repurchases, are further evidence of our commitment to return value to our shareholders».

Fourth Quarter and Fiscal 2012 Highlights

• Revenues were up 7,5 percent for the fourth quarter versus the prior-year period, due primarily to higher volumes in domestic supply chain, higher same store sales in both domestic and international stores and store count growth in international markets.
• Net Income was up 21,6 percent for the fourth quarter versus the prior-year period, primarily driven by domestic and international same store sales growth, international store growth and improved operating margins
• Diluted EPS was 64 cents for the fourth quarter versus 52 cents in the prior-year quarter – an increase of twelve cents or 23,1 percent. This increase in diluted EPS was primarily due to higher net income and lower weighted average diluted shares outstanding. There were no items that affected comparability in the fourth quarter of 2012 compared to the fourth quarter of 2011.
• Global Retail Sales were up 9,7 percent in the fourth quarter or up 9,4 percent when excluding the impact of foreign currency. For fiscal 2012, global retail sales were up 6,5 percent or up 8,3 percent when excluding the impact of foreign currency.

Share Repurchases

During the fourth quarter of 2012, the Company repurchased and retired 1’136’648 shares of its common stock under its open market share repurchase program for approximately 45,5 million USD or an average price of 40,05 USD per share. For fiscal 2012, the Company repurchased and retired 2’472’863 shares of its common stock for approximately 88,2 million USD or an average price of 35,68 USD per share. The Company has used approximately 24 percent of the total amount authorized under its open market share repurchase program and has approximately 152,4 million USD remaining under the program, which the Company´s Board of Directors reset for a second time at 200,0 million USD during the third quarter of 2012.