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UPDATE 2-Domino's Pizza 2nd-quarter profit rises
July 24, 2012 / 11:45 AM / in 5 years

UPDATE 2-Domino's Pizza 2nd-quarter profit rises

* Q2 adj EPS 47 cents vs. 40 cents year earlier

* International sales, U.S. restaurant margin drive profit

* Shares up 3.7 percent

July 24 (Reuters) - Domino’s Pizza Inc, the second largest U.S. pizza chain, reported higher quarterly profit as sales at established international restaurants accelerated more than expected and U.S. restaurant margins increased.

Net income jumped 11.3 percent to $28.1 million, or 47 cents per share, for the second quarter ended June 17. Domino’s had a profit of $25.2 million, or 40 cents per share, a year earlier.

Revenue fell to $376.1 million from $384.9 million.

That 2.3 percent decline was primarily due to lower domestic supply chain volumes, decreased company-owned store revenues resulting from the sale of stores in 2011 and the stronger U.S. dollar, which lessens the value of overseas sales for U.S. companies.

Sales at stores open at least one year were up 1.7 percent in the United States and up 5.7 percent internationally.

“Domestic store margins reached an all-time high of 24.7 percent,” Oppenheimer Equity Research analyst Brian Bittner said.

Domino’s competes with Yum Brands Inc’s Pizza Hut chain and Papa John’s International Inc.

Shares in Domino’s were up 3.7 percent to $33.16 in morning trading on the New York Stock Exchange.

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