Papa John's has solid finish to 2009
February 24, 2010
by Bryan Salvage
LOUISVILLE — Papa John’s International Inc. announced net income for the fourth quarter of 2009 was $13.7 million, or $0.49 per diluted share, compared to 2008 fourth quarter net income of $12.8 million, or $0.46 per diluted share. Revenues were $280.5 million for the fourth quarter of 2009, compared to revenues of $279.6 million in 2008.
Net income for 2009 was $57.5 million, or $2.06 per diluted share, compared to net income of $36.8 million, or $1.30 per diluted share, for 2008. Consolidated revenues for 2009 were $1.11 billion, representing a 2.3% decrease from revenues of $1.13 billion for 2008.
“Our system had a solid fourth quarter and a very good 2009 in a challenging consumer environment,” said John Schnatter, Papa John’s founder, chairman and chief executive officer. “The investments made in our system over the last 15 months, supported by a favorable commodities environment, helped drive positive transaction momentum and some of the most profitable unit economics in the history of our company.”