Record results, 3rd quarter 2002
ANN ARBOR, Mich. – Oct. 23, 2002 – Domino's, Inc., the recognized leader in pizza delivery, today announced record results for the third quarter of 2002, which ended September 8, 2002.
Financial Highlights
- The following are highlights for the third quarter of 2002 compared to the same period in 2001.
- Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 10.4% to a third quarter record of $39.8 million.
- Net income increased 36.2% to $10.8 million.
- Domestic same store sales decreased 0.5%, comprised of a 0.4% decrease in domestic franchise same store sales and a 1.4% decrease in domestic Company-owned same store sales.
- International same store sales increased 4.0%, on a constant dollar basis, marking the 35th consecutive quarter of international same store sales growth.
- System-wide sales increased 2.6% to $879.0 million.
- The Company repaid $11.8 million of debt during the third quarter of 2002, bringing total debt repayments over the most recent four fiscal quarters to nearly $55 million.
"We are pleased to report another quarter of record earnings," said Domino's Chairman and Chief Executive Officer David A. Brandon. "Our ability to achieve record results in such a difficult economic environment demonstrates the strength of both our brand and our business model."
"During the third quarter, we introduced Domino's Pizza Buffalo Chicken Kickers throughout the U.S.", Brandon continued. "Initial results are very promising and it appears as though large numbers of consumers enjoy the unique value, taste and variety this new product brings to our menu."