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Applebee's owner DineEquity's profit falls 40 percent
May 2, 2013 / 12:15 PM / in 4 years

Applebee's owner DineEquity's profit falls 40 percent

May 2 (Reuters) - DineEquity Inc, the owner of Applebee’s and IHOP restaurants, reported a 40 percent fall in first-quarter earnings as revenue dropped by more than a third.

Net income fell to $17.9 million, or 93 cents per share, from $29.9 million, or $1.64 per share, a year earlier.

Excluding items, the company earned $1.14 per share.

Revenue fell 34 percent to $163.5 million.

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