USA: PJ America reports third quarter earnings and fourth quarter outlook
PJ America, Inc. (NASDAQ: PJAM), the largest franchisee of Papa John's International, Inc. announced revenues of $27.5 million and net income of $453 thousand for the third quarter ended September 24, 2000. These results represent a sales increase of 13% and net income decrease of 68%, respectively, over revenues of $24.4 million and net income of $1.40 million for the same period in 1999. Net income per share (diluted) for the quarter decreased 58% to $0.10 cents compared to $0.24 cents for the third quarter of 1999. Net income per share was $0.56 cents for the first nine months of 2000 compared to $0.75 cents for the same period in 1999, prior to the cumulative effect change in accounting principle. Comparable restaurant sales for the quarter increased 0.2%. During the third quarter, four restaurants were opened. At September 24, 2000, there were 170 Papa John's restaurants operated by the Company in nine states and Puerto Rico. During the third quarter, the Company repurchased 265,000 shares for $1.9 million. At September 24, 2000, the Company had 4.32 million shares outstanding.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Focus: Nestle CEO plan to balance sales, earnings
- Does Kraft Heinz want to swallow Unilever whole?
- Will Kellogg's DSD exit help it grow in US snacks?
- Comment: Meal kits in US - don't believe the hype
- Is Mondelez's margin target hurting sales?
- Nestle plans restructuring as 2016 profit misses
- Kraft Heinz pursuing Unilever in takeover move
- Danone eyes efficiency, agility with new structure
- Kraft Heinz returns to organic growth, ups margins
- Danone sales dampened by Europe, China