Dunkin' Brands earnings up 28% in fiscal 2011
Feb. 9, 2012
by Eric Schroeder
CANTON, MASS. — Net income of Dunkin’ Brands Group, Inc. in the fiscal year ended Dec. 31, 2011, was $34,442,000, equal to $6.14 per share on the common stock, up 28% from $26,861,000, or $4.87 per share, in fiscal 2010. Total revenues were $628,198,000, up 9% from $577,135,000.
Dunkin’s full-year results benefitted from a strong fourth quarter, in which the company posted net income of $11,591,000, which compared with a loss of $15,256,000 in the same period a year ago. Net sales during the quarter increased 13% to $168,505,000 from $149,776,000.
“We had a strong finish to the year,” said Nigel Travis, chief executive officer of Dunkin’ Brands Group, Inc., and president of Dunkin’ Donuts U.S. “Our operational execution, innovative product introductions, and break-through marketing are differentiating us competitively and delivering results. We continue to grow our brands globally, adding more than 600 net new Dunkin’ Donuts and Baskin-Robbins locations last year. The long-term agreement we signed with our Dunkin’ Donuts franchisee-owned procurement and distribution cooperative was a significant step forward in support of our goal to accelerate the growth of the brand across the U.S.”
Dunkin’ Donuts U.S., the company’s largest segment by a wide margin, had operating profit of $334,308,000 and total revenues of $437,728,000 in fiscal 2011. The company said Dunkin’ Donuts U.S. comparable store sales grew 5.1% in the full year and 7.4% in the fourth quarter. Fourth-quarter gains were driven by “increased average ticket and higher traffic resulting from strong beverage sales growth; differentiated breakfast sandwich limited-time offers, including the smoked sausage breakfast sandwich; sales of Dunkin’ Donuts K-Cup portion packs; and the ‘What Are You Drinkin’ marketing campaign.”
Baskin Robbins U.S. operating profit was $20,904,000, while total revenues were $41,763,000.
Dunkin’ Donuts International posted operating profit and total revenues of $11,528,000 and $15,253,000, respectively, in fiscal 2011.
Baskin’ Robbins International fiscal 2011 segment profit was $43,533,000, while total revenues were $108,579,000.
Overall operating earnings at Dunkin’ in fiscal 2011 were $205,309,000, up 6% from $193,525,000 in fiscal 2010.