Ann Arbor / MG. (dp) Domino´s Pizza Inc., the recognized leader in pizza delivery, announced results for the third quarter of 2014, comprised of strong growth in same store sales, global store counts and earnings. Domestic same store sales grew 7.7 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 same store sales growth of 7.1 percent, marking the 83rd consecutive quarter of international same store sales growth. The Company had global net store growth of 160 stores in the quarter.
Diluted EPS was 0.63 USD for the third quarter, which was up 18.9 percent over the Company´s reported EPS in the prior year quarter, and up 23.5 percent over the Company´s adjusted EPS in the prior year quarter. During the quarter, the Company repurchased 242’700 shares of its common stock for approximately 17.4 million USD. The Board of Directors also declared a 0.25 USD per share quarterly dividend for shareholders of record as of December 15, 2014 to be paid on December 30, 2014.
J. Patrick Doyle, Domino´s President and Chief Executive Officer, said: «Great people, food, service and technology have helped us deliver another strong quarter of global sales and profits. Our franchisees continued to drive vigorous store growth worldwide and have embraced our «Pizza Theater» store re-image program in neighbourhoods around the world».
Third Quarter Highlights
|Net income||35.6 million USD||30.6 million USD||114.6 million USD||98.3 million USD|
|Weighted average diluted shares||56’610’608||57’345’677||57’030’669||57’831’660|
|Diluted earnings per share as reported||0.63 USD||0.53 USD||2.01 USD||1.70 USD|
|Items affecting comparability||–||-0.02 USD||-0.02 USD||-0.02 USD|
|Diluted earnings per share´ as adjusted||0.63 USD||0.51 USD||1.98 USD||1.68 USD|
Revenues were up 10.5 percent for the third quarter versus the prior year period, due primarily to higher supply chain revenues from increased volumes in the supply chain centers and elevated commodity prices, specifically cheese, as well as increased sales of equipment and supplies to stores as our store re-imaging program accelerates. Additionally, sales and store growth contributed to increased revenues in all business segments.
Net Income was up 16.3 percent for the third quarter versus the prior year period, primarily driven by domestic and international same store sales growth and global store count growth, as well as increased supply chain volumes.
Diluted EPS was 0.63 USD for the third quarter versus 0.53 USD in the prior year quarter. The diluted EPS of 0.63 USD for the quarter was 0.12 USD, or 23.5 percent higher than the prior year adjusted EPS of 0.51 USD. This increase was due to higher net income and lower weighted average diluted shares outstanding.
Store counts: On September 09, Domino´s counted 376 domestic company-owned stores, 4’640 domestic franchise stores (equates to 5’016 total domestic stores) and 6’265 international stores – summa summarum 11’281 stores.