Key Developments: Papa John's International Inc (PZZA.OQ)
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Latest Key Developments (Source: Significant Developments)
Papa John's International Inc Raises FY 2013 EPS Guidance
Papa John's International Inc announced that for fiscal 2013, it increases earnings guidance to a range of $2.90 to $3.00 per diluted share, from prior guidance of $2.85 to $2.95 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $2.96 for fiscal 2013. Full Article
Papa John's International Inc Issues FY 2013 EPS Guidance Below Analysts' Estimates
Papa John's International Inc announced that for fiscal 2013 it projects earnings per share (EPS) in the range of $2.85 to $2.95. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $3.00 for fiscal 2013. Full Article
Papa John's International Inc Announces Restatement of 2009, 2010 and 2011 Financial Statements
Papa John's International Inc announced that in connection with the evaluation of the accounting for newly formed joint ventures in 2012, the Company reviewed the accounting for previously existing joint venture arrangements. As a result of review, determined an error occurred in the accounting for one of joint venture agreements, which contained a mandatorily redeemable feature added through a contract amendment in the third quarter of 2009. This provision was not previously considered in determining the classification and measurement of the noncontrolling interest. In addition, the Company determined that an additional redeemable noncontrolling interest was incorrectly classified in shareholders' equity and should be classified as temporary equity. As such, the Company is restating previously issued consolidated financial statements for the years ended December 27, 2009, December 26, 2010 and December 25, 2011 to correct the errors. To correctly reflect the measurement of the mandatorily redeemable noncontrolling interest, it recorded a $3.7 million charge, net of income taxes, to 2009 retained earnings in consolidated statements of stockholders’ equity to adjust the previously reported balance to the redemption value as of December 27, 2009. Additionally, corrected the classification errors of redeemable noncontrolling interests from permanent equity to either other long-term liabilities or redeemable noncontrolling interests in the consolidated balance sheets. Full Article
Federal Court Certifies Nationwide Class Action Against Papa John's International, Inc.'s Pizza For Spam Text Messages
On November 9, 2012, United States District Court Judge John C. Coughenour certified a nationwide class action case against Papa John's International, Inc. with potential damages over $250 million. The lawsuit is brought on behalf of Papa John's customers across the United States who were sent unwanted text messages that advertised Papa John's pizza. The ruling paves the way for what could be one of the largest damages awards ever recovered under the federal Telephone Consumer Protection Act. The class action lawsuit contends that 500,000 illegal text messages were sent to Papa John's customers across the country. Papa John's customers could be awarded $500 or more in statutory damages for each text message. Full Article
Heyrich Kalish McGuigan PLLC Announces That Federal Court Certifies Nationwide Class Action Against Papa John's International Inc's Pizza For Spam Text Messages
Heyrich Kalish McGuigan PLLC announced that, on November 9, 2012, United States District Court Judge John C. Coughenour certified a nationwide class action case against Papa John's International Inc with potential damages over $250 million. The lawsuit is brought on behalf of Papa John’s customers across the United States who, it is alleged, were sent unwanted text messages that advertised Papa John’s pizza. The ruling paves the way for what could be one of the largest damages awards ever recovered under the federal Telephone Consumer Protection Act. The class action lawsuit contends that 500,000 illegal text messages were sent to Papa John’s customers across the country. Papa John’s customers could be awarded $500 or more in statutory damages for each text message. Full Article
Papa John's International Inc Raises FY 2012 EPS Guidance; Raises FY 2012 International Comparable Sales Guidance
Papa John's International, Inc. raised fiscal 2012 guidance for diluted earnings per share (EPS) and international comparable sales. The Company expects diluted EPS of $2.53 to $2.63 and International comparable sales of +6.0% to +7.0%. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $2.60 for fiscal 2012. Full Article
Papa John's International, Inc. Raises FY 2012 EPS Guidance And International Comparable Sales
Papa John's International, Inc. raised fiscal 2012 guidance for diluted earnings per share (EPS) and international comparable sales. The Company expects diluted EPS of $2.45 to $2.55 from previous guidance of $2.40 to $2.50 and International comparable sales of +4.0% to +5.5% compared to previous range of +2.5% to +4.5%. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $2.52 for fiscal 2012. Full Article
Papa John's International, Inc. Raises FY 2012 EPS, International Comparable Sales Guidance
Papa John's International, Inc. raised fiscal 2012 guidance for diluted earnings per share (EPS) and international comparable sales. The Company expects diluted EPS of $2.40 to $2.50, compared to previous range of $2.33 to $2.43 and International comparable sales of +2.5% to +4.5%, compared to previous range of +1.5% to +3.5%. Full Article
Papa John's International, Inc. Announces Acquisition Of Denver And Minneapolis Franchised Restaurants
Papa John's International, Inc. announced the acquisition of 56 franchised Papa John’s restaurants in the Denver and Minneapolis markets. With the immediate sale of six of the Denver restaurants to an area franchisee, the transaction results in the net acquisition of 50 restaurants (21 in Denver and 29 in Minneapolis) by the company for $5.1 million. The acquisition is not expected to have a material impact on operating results for 2012. Full Article
Papa John's International, Inc. Reaffirms FY 2012 EPS Guidance
Papa John's International, Inc. reaffirmed its previously issued guidance for fiscal 2012, including earnings per diluted share (EPS) in a range of $2.33 to $2.43. This range includes a reduction of $0.11 due to a one-time marketing incentive contribution. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EPS of $2.35 for fiscal 2012. Full Article
Pizza chain Papa Murphy's prepares for IPO: sources
- Pizza chain Papa Murphy's is close to selecting banks for an initial public offering that could come later this year, according to three sources familiar with the matter.

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