The following are highlights of the first quarter of 2000 compared to the same period in 1999.
The first quarter of 2000 operating income, EBITDA and net income benefited from increased same store sales and new stores, reduced amortization expense attributable to a covenant not to compete and increased distribution profits.
Total revenues for the first quarter of 2000 increased primarily due to increased corporate stores revenues and domestic and international franchise royalty revenues.
Domestic same store sales increased 2.0% in the first quarter of 2000, as compared to the same period in 1999. During the first quarter of 2000, domestic store count increased by 48, bringing the total to 4,677 domestic stores.
International same store sales, on a constant dollar basis, increased 2.3% for the first quarter of 2000, as compared to the same period in 1999. During the first quarter of 2000, international store count increased by 45, bringing the total to 1,975 international stores.
"We are pleased to report that Domino's first quarter results reflect EBITDA of $33.3 million, a 10% increase over 1999," commented David Brandon, chairman and CEO, "Our strong performance in store growth, system-wide sales and our continued improvement in same store sales, combined with the positive impact from a restructure of our organization in late 1999, have all contributed to our strong operating results."
Founded in 1960, Domino's, Inc. operates a network of 6,652 owned and franchised stores in the United States and 64 international markets.