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UPDATE 1-Papa John's Q2 profit in line, narrows FY EPS view
August 3, 2010 / 9:24 PM / 7 years ago

UPDATE 1-Papa John's Q2 profit in line, narrows FY EPS view

* Q2 adj EPS $0.43 in line with estimates

* Revenue up 4.5 pct, beats estimates

* Narrows 2010 earnings view

Aug 3 (Reuters) - Papa John’s International Inc (PZZA.O) reported an adjusted quarterly profit in line with market expectations and the pizza chain narrowed its fiscal 2010 earnings outlook.

Papa John‘s, which competes with Domino’s Pizza Inc (DPZ.N) and Yum Brands Inc’s (YUM.N) Pizza Hut, said it now sees earnings of $1.74 a share to $1.82 a share for 2010, compared with its prior view of $1.72 a share to $1.87 a share.

Analysts on average were expecting earnings of $1.87 a share, before items, according to Thomson Reuters I/B/E/S.

Papa John’s said it expects the current pricing and promotional environment in the pizza category to result in continued restaurant margin pressures for the remainder of 2010.

For the second quarter ended June 27, the Louisville, Kentucky-based company earned $13.2 million, or 49 cents a share, compared with $14.2 million, or 51 cents a share, a year ago.

Excluding items, it earned 43 cents a share.

Revenue rose 4.5 percent to $280.6 million.

Analysts were expecting earnings of 43 cents a share on revenue of $273.8 million.

Papa John’s shares closed at $25.00 Tuesday on Nasdaq. (Reporting by Renju Jose in Bangalore; Editing by Unnikrishnan Nair)

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