Papa John's International Inc. announced financial results for Q1 ended March 29, 2015.
The pizza chain reported first quarter earnings per diluted share of $0.55 in 2015 compared to $0.45 in 2014, an increase of 22.2 percent, with 2015 revenues at $432.3 million, a 7.7 percent increase from first quarter 2014 revenues of $401.4 million.
Papa John's opened 36 net global stores and reported Q1 2015 net income increased 15.1 percent to $22.2 million, compared to a Q1 2014 net income of $19.3 million.
Domestic company-owned restaurant sales increased $19.1 million, or 10.7 percent, attributed to an increase of 8.1 percent in comparable sales during Q1 of 2015.
North America franchise royalty revenue increased $2.7 million, or 12.1 percent due primarily to an increase of 6.0 percent in comparable sales and reduced levels of royalty incentives in the first quarter of 2015, the company said in the announcement.
Domestic commissary sales decreased $1.7 million, or 1 percent, due to lower revenues associated with lower cheese prices, which were somewhat offset by increases in sales volumes. International revenues increased $1.8 million, or 7.6 percent, attributed to a 7.7 percent increase in number of restaurants and comparable sales on a constant dollar basis, offset by the negative impact of foreign currency exchange rates.
Copyright Â© 2015 Networld Media. All rights reserved., source Industry News