Denny's Corp (NASDAQ: DENN) reported Q3 EPS of $0.17, $0.01 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $158 million versus the consensus estimate of $158.9 million.

John Miller, President and Chief Executive Officer, stated, “Denny's delivered another quarter of positive system-wide same-store sales** growth as we navigated through a challenging competitive environment where the focus is primarily on value offerings. Furthermore, the Company’s total operating revenue growth coupled with a disciplined focus on costs resulted in strong cash flow generation and a 24.3% increase in Adjusted Net Income per share*."

Miller added, "We are excited to be announcing a strategic initiative that will further stimulate growth at Denny's. It is expected the Company will migrate to a business model that will be between 95% and 97% franchised through the sale of company operated restaurants over the next 18 months. Our refranchising and development strategy will enable us to further evolve as a franchisor of choice that provides more focused support services, all while yielding a higher quality, more asset-light business model. As always, we remain committed to profitable system sales growth, driving market share gains, delivering strong returns on invested capital and generating compelling returns for shareholders, including the return of capital.”

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