Papa John’s: Announces Second Quarter 2015 Results

Louisville / KY. (pj) Papa John´s International Inc., the world´s third largest pizza company, announced financial results for the three and six months ended June 28, 2015. Highlights:

• Reported earnings per diluted share of 0.27 USD in the second quarter of 2015; Adjusted earnings per diluted share of 0.47 USD in 2015, excluding a legal settlement, or an increase of 17.5 percent over 2014
• System-wide comparable sales increases of 5.5 percent for North America and 6.8 percent for International
• Regular dividend increased 25 percent to 0.70 USD from 0.56 USD annually
• Increased 2015 diluted earnings per share guidance to a range of 2.04 USD to 2.10 USD, excluding a legal settlement; Increased International comparable sales guidance to a range of +6.0 percent to +8.0 percent

«We are pleased to have maintained our excellent sales momentum and completed another successful quarter». said Papa John’s founder, chairman and CEO, John Schnatter. «Our Better Ingredients, Better Pizza promise is resonating more than ever with our loyal consumers, and should only help drive increasingly better results as we continue to differentiate ourselves by enhancing the quality of our pizza».

Second quarter 2015 revenues were 399.0 million USD, a 4.8 percent increase from second quarter 2014 revenues of 380.9 million USD. Second quarter 2015 net income was 10.8 million USD (18.8 million USD, or a 12.0 percent increase, excluding a net after-tax expense of 8.0 million USD for a legal settlement discussed below), compared to second quarter 2014 net income of 16.7 million USD. Second quarter 2015 diluted earnings per share were 0.27 USD (0.47 USD, or a 17.5 percent increase, excluding the 0.20 USD impact of a legal settlement discussed below), compared to second quarter 2014 diluted earnings per share of 0.40 USD.

Revenues were 831.3 million USD for the six months ended June 28, 2015, a 6.3 percent increase from revenues of 782.2 million USD for the same period in 2014. Net income was 33.0 million USD for the first six months of 2015 (41.0 million USD, or a 13.7 percent increase, excluding the net after-tax expense of a legal settlement discussed below), compared to 36.1 million USD for the same period in 2014. Diluted earnings per share were 0.82 USD for the first six months of 2015 (1.02 USD, or a 20.0 percent increase, excluding a legal settlement), compared to 0.85 USD for the same period in 2014.