Domino’s earnings rise behind same-store sales growth
by Jeff Gelski
ANN ARBOR, MICH. – Third-quarter net income for Domino’s Pizza, Inc. increased 18% thanks to same-store sales growth, store count growth and a lower effective tax rate. Higher general and administrative expenses and a negative impact of foreign currency exchange rates partly offset net income growth.
Net income of $30.6 million, or diluted earnings per share of 51c, in the quarter ended Sept. 8 compared to net income of $26 million, or diluted earnings per share of 43c, in the third quarter of the previous year. Third-quarter revenues rose 7% to $404.1 million from $378.1 million.
Domestic same-store sales grew 5.4% during the quarter versus the year-ago period. The international division had same-store sales growth of 5%. Ann Arbor-based Domino’s Pizza had global net store growth of 126 stores in the third quarter and had 10,566 stores total as of Sept. 8.
Through the first three quarters of the fiscal year, Domino’s Pizza had net income of $98.3 million, or diluted earnings per share of $1.70, which compared to $74.8 million, or diluted earnings per share of $1.26, in the same time period of the previous year. Total revenue through the first three quarters was $1,235.7 million, which compared to $1,138.8 million in the same time period of the previous year.