Industry News | February 23, 2005
Domino’s Pizza Announces 2004 Earnings and Increased Annual Dividend
Domino’s Pizza, Inc. announced results for the fourth quarter and fiscal 2004, ended January 2, 2005. Diluted earnings per share were $0.38 for the fourth quarter, after a $0.02 per share charge relating to a change in accounting for leases. Pro forma diluted earnings per share were $1.12 for the full year 2004, after a $0.03 per share charge relating to the change in accounting for leases. Global retail sales were up 14.4 percent for the fourth quarter of 2004 and 10.5 percent for the full year.
Included in the fourth quarter of 2004 was an extra week (or 53rd week) compared to 2003 which favorably impacted global retail sales by approximately 6 percentage points in the fourth quarter and 2 percentage points for the full year. The Company’s 53rd week in 2004 benefited diluted EPS approximately 4 cents per share for both the fourth quarter and full year periods.
Full Year 2004 Highlights (versus 2003) included:
* Pro forma diluted EPS was $1.12, on pro forma net income of $80.0 million.
* Global retail sales increased 10.5 percent, driven by increased store counts and same store sales, and the impact of the 53rd week.
* Domestic same store sales increased 1.8 percent, comprised of a domestic franchise same store sales increase of 2.1 percent and a domestic Company-owned same store sales increase of 0.1 percent.
* International same store sales increased 5.9 percent on a constant dollar basis.
* Worldwide store counts increased by a net 330 stores, which represented the largest increase in store growth since 2000.
David A. Brandon, Domino’s chairman and CEO, says: “The ultimate test of any company is how it performs in a tough business environment. We generated almost $88 million in free cash flow in 2004, despite extraordinary cost pressures, significant competitive challenges and the distractions associated with executing a large IPO in the middle of the year.”
For more information, visit www.dominos.com.
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