Domino's (DPZ) Gets Extra Sausage with Q1 Report; Net Income Dips 24%
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Shares of Domino's Pizza, Inc. (NYSE: DPZ) -- creators of the world's most board game-associated food brand -- are getting hit Tuesday morning following first-quarter 2012 results issued earlier.
Revenue for the quarter fell 1.2 percent from $389.2 million in the same period last year to $384.59 million. The Street was looking for sales of $404.1 million.
Net income fell 23.5 percent to $20.74 million, or 35 cents per share. Exclude expenses tied to Domino's recapitalization and EPS moved to 47 cents per share, shy of the 49 cents in earnings expected.
International comps popped 4.7 percent. Global retail sales growth was 7.2 percent for Domino's.
"On the heels of a successful recapitalization and a $3 per share special dividend, we're continuing to report strong financial results," commented CEO J. Patrick Doyle. "And, as a result of the Company's strong cash flow characteristics, we continue to have the flexibility to deploy capital through various channels to benefit our shareholders."
Shares are 9 percent lower Tuesday.
Revenue for the quarter fell 1.2 percent from $389.2 million in the same period last year to $384.59 million. The Street was looking for sales of $404.1 million.
Net income fell 23.5 percent to $20.74 million, or 35 cents per share. Exclude expenses tied to Domino's recapitalization and EPS moved to 47 cents per share, shy of the 49 cents in earnings expected.
International comps popped 4.7 percent. Global retail sales growth was 7.2 percent for Domino's.
"On the heels of a successful recapitalization and a $3 per share special dividend, we're continuing to report strong financial results," commented CEO J. Patrick Doyle. "And, as a result of the Company's strong cash flow characteristics, we continue to have the flexibility to deploy capital through various channels to benefit our shareholders."
Shares are 9 percent lower Tuesday.
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