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Denny's Corp (DENN) Tops Q1 EPS by 2c

May 2, 2016 4:32 PM EDT

Denny's Corp (NASDAQ: DENN) reported Q1 EPS of $0.13, $0.02 better than the analyst estimate of $0.11. Revenue for the quarter came in at $124.64 million versus the consensus estimate of $122.93 million.

John Miller, President and Chief Executive Officer, stated, “Our start to the year was quite positive as we grew same-store sales on top of one of our strongest quarters of growth in the prior year. Our revenue growth, coupled with our ongoing focus on costs, resulted in margin improvement and growth in key profitability metrics. We remain focused on executing our brand revitalization strategy to offer affordable and craveable products delivered with consistent service in an inviting environment. Furthermore, given we are still in the early stages of our successful store revitalization efforts, with only 36% of the system reflecting the new Heritage image, we have an opportunity to further enhance our performance for the balance of 2016 and beyond. With ongoing same-store sales growth, an expanding global reach, and a highly franchised business model, the Free Cash Flow* we are generating enables us to make investments in our company restaurants and our brand support systems while returning excess cash to shareholders through our ongoing share repurchase program.”

GUIDANCE:

Denny's Corp sees FY2016 revenue of $500-505 million, versus the consensus of $504.16 million.

For earnings history and earnings-related data on Denny's Corp (DENN) click here.



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