Record Results for First Quarter 2002
ANN ARBOR, Mich. - May 7, 2002 - Earlier today, Domino's issued a press release announcing record results for the first quarter of 2002.
Financial Highlights
The following are highlights for the first quarter of 2002 compared to the same period in 2001.
- Net income increased 103.7% to $15.9 million.
- Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 24.5% to a record $45.7 million.
- Domestic same store sales increased 7.6%, comprised of an 8.0% increase in domestic franchise same store sales and a 5.2% increase in domestic Company-owned same store sales.
- International same store sales increased 3.3%, on a constant dollar basis, marking the 33rd consecutive quarter of international same store sales growth.
- System-wide sales increased 7.9% to $947.6 million.
- The Company repaid $14.5 million of debt during the first quarter of 2002, bringing total debt repayments over the most recent four fiscal quarters to nearly $40.0 million.
- The Company successfully integrated the purchase of 83 stores from its franchisee in Arizona.
"The positive momentum we created in 2001 continued throughout the first quarter of 2002," said Domino's Chairman and Chief Executive Officer David A. Brandon. "Our ability to grow sales and generate record levels of EBITDA in a challenging economic environment and in an extremely competitive category demonstrates the strength of our brand and our Company's continued progress."
Brandon added, "As always, Domino's success is being led by our great franchisees and our complete dedication to continuously improving the operational performance of ALL of our stores."