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Chip! $$$$
King Long!
Nobody eats at Papa Johns anymore?? Why has this stock lost half its value
$PZZA recent news/filings
bullish
## source: finance.yahoo.com
Fri, 19 Jun 2015 13:24:00 GMT ~ 5 Stocks to Buy as Restaurants Go Digital
read full: http://www.thestreet.com/story/13191903/1/5-stocks-to-buy-as-restaurants-go-digital.html?puc=yahoo&cm_ven=YAHOO
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Thu, 18 Jun 2015 18:34:11 GMT ~ How To Play The Digital Revolution In The Restaurant Business
read full: http://finance.yahoo.com/news/play-digital-revolution-restaurant-business-183411424.html
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Fri, 12 Jun 2015 12:02:00 GMT ~ Meet The Top 5 Consumer Stocks On The IBD 50 List
read full: http://news.investors.com/061215-757218-ulta-beauty-leads-five-hot-ibd-fifty-stocks.htm?ven=yahoocp&src=aurlled&ven=yahoo
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Thu, 11 Jun 2015 16:40:13 GMT ~ Texas Roadhouse, Papa John's ranked among nation's most reputable chains
read full: http://www.bizjournals.com/louisville/news/2015/06/11/texas-roadhouse-papa-johns-ranked-among-nations.html?ana=yahoo
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Thu, 11 Jun 2015 08:58:47 GMT ~ Edited Transcript of PZZA earnings conference call or presentation 6-May-15 2:00pm GMT
read full: http://finance.yahoo.com/news/edited-transcript-pzza-earnings-conference-085847103.html
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$PZZA charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$PZZA company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/PZZA/company-info
Ticker: $PZZA
OTC Market Place: Not Available
CIK code: 0000901491
Company name: Papa John's International, Inc.
Incorporated In: DE, USA
$PZZA share structure
## source: otcmarkets.com
Market Value: $2,897,405,431 a/o Jun 19, 2015
Shares Outstanding: 39,783,131 a/o Apr 28, 2015
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01
$PZZA extra dd links
Company name: Papa John's International, Inc.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=PZZA+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=PZZA+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=PZZA+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/news - http://finance.yahoo.com/q/h?s=PZZA+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/PZZA/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=PZZA+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/PZZA
DTCC (dtcc.com): http://search2.dtcc.com/?q=Papa+John%27s+International%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Papa+John%27s+International%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Papa+John%27s+International%2C+Inc.&x=0&y=0
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/PZZA
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000901491&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=PZZA&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=PZZA
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=PZZA+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=PZZA+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=PZZA
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=PZZA
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=PZZA+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/PZZA/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=PZZA+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/PZZA.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=PZZA
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/PZZA
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/PZZA
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/PZZA:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=PZZA
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=PZZA
$PZZA DD Notes ~ http://www.ddnotesmaker.com/PZZA
I ordered a pizza 48 goddam minuets ago... Wtf!!!
$41 starting position to $50 close PZZA
I’m really happy with it too. Apparently a big reason they’re doing so well is that they’re the digital leader in delivery, giving them an edge over their competitors. Pretty exciting.
I pizza king with green pizza smile! I got my pizza full of stocks...pzza my winner...up enough to get free pizza for life.
Am I the only one happy with the earnings report!?
Rocking lately, you still short?
Ordering pizza tonight to celebrate!
$41.08 entry into pzza looking good and my observation on macd was spot on...good to be right...pzza now poised to rally with latest close of $45.79.
$PZZA DD Notes ~ http://www.ddnotesmaker.com/PZZA
bullish very long term
$PZZA recent news/filings
## source: finance.yahoo.com
Fri, 24 Oct 2014 17:00:19 GMT ~ Why Yum! Brands’ unit growth in 3Q14 is important
read full: http://finance.yahoo.com/news/why-yum-brands-unit-growth-170019502.html
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Fri, 24 Oct 2014 16:42:24 GMT ~ Papa John's Warms Up the Fall Season with PepsiCo for a New Spin on a Classic: The Fritos Chili Pizza
[at noodls] - Oct. 27 Through Nov. 23 get the Fritos Chili Pizza for $12 and a Chocolate Chip Cookie for $5 LOUISVILLE, Ky.--(BUSINESS WIRE)-- Papa John's is bringing the crunch this fall with a new spin on a classic ...
read full: http://www.noodls.com/view/6BA7082354951C7466194A47316A9B6A46D49933
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Fri, 24 Oct 2014 16:12:00 GMT ~ Papa John’s Warms Up the Fall Season with PepsiCo for a New Spin on a Classic: The Fritos Chili Pizza
[Business Wire] - Papa John’s is bringing the crunch this fall with a new spin on a classic American favorite. The pizza company is partnering with PepsiCo’s Fritos corn chips to create a new tasty tradition, the Fritos Chili Pizza.
read full: http://finance.yahoo.com/news/papa-john-warms-fall-season-161200196.html
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Fri, 24 Oct 2014 13:00:18 GMT ~ Why KFC and Taco Bell’s same-store sales grew, but not Pizza Hut
read full: http://finance.yahoo.com/news/why-kfc-taco-bell-same-130018063.html
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Wed, 22 Oct 2014 11:00:00 GMT ~ Welcome to the future of fast food
read full: http://www.cnbc.com/id/102097982?__source=yahoo%7cfinance%7cheadline%7cheadline%7cstory&par=yahoo&doc=102097982
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$PZZA charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$PZZA company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/PZZA/company-info
Ticker: $PZZA
OTC Market Place: Not Available
CIK code: 0000901491
Company name: Papa John's International, Inc.
Incorporated In: DE, USA
$PZZA share structure
## source: otcmarkets.com
Market Value: $1,777,844,945 a/o Oct 27, 2014
Shares Outstanding: 40,926,449 a/o Jul 29, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01
$PZZA extra dd links
Company name: Papa John's International, Inc.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=PZZA+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=PZZA+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=PZZA+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/news - http://finance.yahoo.com/q/h?s=PZZA+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/PZZA/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=PZZA+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/PZZA
DTCC (dtcc.com): http://search2.dtcc.com/?q=Papa+John%27s+International%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Papa+John%27s+International%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Papa+John%27s+International%2C+Inc.&x=0&y=0
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/PZZA
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000901491&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=PZZA&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=PZZA
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=PZZA+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=PZZA+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=PZZA
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=PZZA
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=PZZA+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/PZZA/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=PZZA+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/PZZA.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=PZZA
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/PZZA/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/PZZA/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/PZZA
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/PZZA
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/PZZA:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=PZZA
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=PZZA
$PZZA DD Notes ~ http://www.ddnotesmaker.com/PZZA
Not bad pps gain since end of 2012 $25; now over $41. Take that shorts!
Started position today here 41.08. Macd looking good on weekly stockcharts.com.
,,,,,,,SHORT THIS POS!!!!!!!!!!!!!!!!!!!!!TO $9.99 LIKE THEIR RUBBER/TRASH PIZZAS!!!!MONDAY
MONEYMADE
TALENT ON LOAN FROM GOD!!!
Will Obama's re-election and implementation of Obamacare reduce value of this stock? Will implementation of Obamacare hit this company harder than others in its market segment?
$PZZA ~ Papa John's Pizza To Raise Prices Because Of Obamacare.
http://www.huffingtonpost.com/2012/08/07/papa-johns-obamacare-pizza_n_1752126.html
PZZA chart and links..
PennyStockTweets ~ http://www.pennystocktweets.com/stocks/profile/PZZA
OTC Markets Company Info ~ http://www.otcmarkets.com/stock/PZZA/company-info
OTC Markets Charts ~ http://www.otcmarkets.com/stock/PZZA/chart
OTC Markets Quote ~ http://www.otcmarkets.com/stock/PZZA/quote
OTC Markets News ~ http://www.otcmarkets.com/stock/PZZA/news
OTC Markets Financials ~ http://www.otcmarkets.com/stock/PZZA/financials
OTC Markets Short Sales ~ http://www.otcmarkets.com/stock/PZZA/short-sales
OTC Markets Insider Disclosure ~ http://www.otcmarkets.com/stock/PZZA/insider-transactions
OTC Markets Research Reports ~ http://www.otcmarkets.com/stock/PZZA/research
Google Finance Summary ~ http://www.google.com/finance?q=PZZA
Google Finance News ~ http://www.google.com/finance/company_news?q=PZZA
Google Finance Option chain ~ http://www.google.com/finance/option_chain?q=PZZA
Google Finance Financials ~ http://www.google.com/finance?q=PZZA&fstype=ii#
Google Finance Historical prices Daily ~ http://www.google.com/finance/historical?q=PZZA
Google Finance Historical prices Weekly ~ http://www.google.com/finance/historical?q=PZZA&histperiod=weekly#
Y! < Company >
Y! Profile ~ http://finance.yahoo.com/q/pr?s=PZZA+Profile
Y! Key Stat's ~ http://finance.yahoo.com/q/ks?s=PZZA+Key+Statistics
Y! Headlines ~ http://finance.yahoo.com/q/h?s=PZZA+Headlines
Y! Summary ~ http://finance.yahoo.com/q?s=PZZA
Y! Historical Prices ~ http://finance.yahoo.com/q/hp?s=PZZA+Historical+Prices
Y! Order Book ~ http://finance.yahoo.com/q/ecn?s=PZZA+Order+Book
Y! Message Boards ~ http://messages.finance.yahoo.com/mb/PZZA
Y! Market Pulse ~ http://finance.yahoo.com/marketpulse/PZZA
Y! Technical Analysis ~ http://finance.yahoo.com/q/ta?s=PZZA+Basic+Tech.+Analysis
Y! < Analyst Coverage >
Y! Analyst Opinion ~ http://finance.yahoo.com/q/ao?s=PZZA+Analyst+Opinion
Y! Analyst Estimates ~ http://finance.yahoo.com/q/ae?s=PZZA+Analyst+Estimates
Y! Research Reports ~ http://finance.yahoo.com/q/rr?s=PZZA+Research+Reports
Y! Star Analysts ~ http://finance.yahoo.com/q/sa?s=PZZA+Star+Analysts
Y! < Ownership >
Y! Major Holders ~ http://finance.yahoo.com/q/mh?s=PZZA+Major+Holders
Y! Insider Transactions ~ http://finance.yahoo.com/q/it?s=PZZA+Insider+Transactions
Y! Insider Roster ~ http://finance.yahoo.com/q/ir?s=PZZA+Insider+Roster
Y! < Financials >
Y! Income Statement ~ http://finance.yahoo.com/q/is?s=PZZA+Income+Statement&annual
Y! Balance Sheet ~ http://finance.yahoo.com/q/bs?s=PZZA+Balance+Sheet&annual
Y! Cash Flow ~ http://finance.yahoo.com/q/cf?s=PZZA+Cash+Flow&annual
FINVIZ ~ http://finviz.com/quote.ashx?t=PZZA&ty=c&ta=0&p=d
Investorshub Trades ~ http://ih.advfn.com/p.php?pid=trades&symbol=PZZA
Investorshub Board Search ~ http://investorshub.advfn.com/boards/getboards.aspx?searchstr=PZZA
Investorshub PostStream ~ http://investorshub.advfn.com/boards/poststream.aspx?ticker=PZZA
Investorshub Messages ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=PZZA
Investorshub Videos ~ http://ih.advfn.com/p.php?pid=ihvse&ihvqu=PZZA
Investorshub News ~ http://ih.advfn.com/p.php?pid=news&btn=s_ok&ctl00%24sb3%24tbq1=Get+Quote&as_values_IH=&ctl00%24sb3%24stb1=Search+iHub&symbol=PZZA&s_ok=OK&from_month=3&from_day=15&from_year=2012&order=desc&selsrc%5B%5D=prnca&selsrc%5B%5D=prnus&selsrc%5B%5D=zacks&selsrc%5B%5D=money2&selsrc%5B%5D=djn&selsrc%5B%5D=bw&selsrc%5B%5D=globe&selsrc%5B%5D=edgar&selsrc%5B%5D=mwus&force=1&last_ts=1331855999&p_n=1&p_count=&p_ts=1331794260
CandlestickChart ~ http://www.candlestickchart.com/cgi/chart.cgi?symbol=PZZA&exchange=US
Barchart Quote ~ http://barchart.com/quotes/stocks/PZZA?
Barchart Detailed Quote ~ http://barchart.com/detailedquote/stocks/PZZA
Barchart Options Quotes ~ http://barchart.com/options/stocks/PZZA
Barchart Technical Chart ~ http://barchart.com/charts/stocks/PZZA&style=technical
Barchart Interactive Chart ~ http://barchart.com/charts/stocks/PZZA&style=interactive
Barchart Technical Analysis ~ http://barchart.com/technicals/stocks/PZZA
Barchart Trader's Cheat Sheet ~ http://barchart.com/cheatsheet.php?sym=PZZA
Barchart Barchart Opinion ~ http://barchart.com/opinions/stocks/PZZA
Barchart Snapshot Opinion ~ http://barchart.com/snapopinion/stocks/PZZA
Barchart News Headlines ~ http://barchart.com/news/stocks/PZZA
Barchart Profile ~ http://barchart.com/profile//PZZA
Barchart Key Statistics ~ http://barchart.com/profile.php?sym=PZZA&view=key_statistics
OTC: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=PZZA&MarketTicker=OTC&TYP=S
NASDAQ: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=PZZA&MarketTicker=NASD&TYP=S
NYSE: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=PZZA&MarketTicker=NYSE&Typ=S
Marketwatch Profile ~ http://www.marketwatch.com/investing/stock/PZZA/profile
Marketwatch Analyst Estimates ~ http://www.marketwatch.com/investing/stock/PZZA/analystestimates
Marketwatch Historical Quotes ~ http://www.marketwatch.com/investing/stock/PZZA/historical
Marketwatch Financials ~ http://www.marketwatch.com/investing/stock/PZZA/financials
Marketwatch Overview ~ http://www.marketwatch.com/investing/stock/PZZA
Marketwatch SEC Filings ~ http://www.marketwatch.com/investing/stock/PZZA/secfilings
Marketwatch Picks ~ http://www.marketwatch.com/investing/stock/PZZA/picks
Marketwatch Hulbert ~ http://www.marketwatch.com/investing/stock/PZZA/hulbert
Marketwatch Insider Actions ~ http://www.marketwatch.com/investing/stock/PZZA/insideractions
Marketwatch Options ~ http://www.marketwatch.com/investing/stock/PZZA/options
Marketwatch Charts ~ http://www.marketwatch.com/investing/stock/PZZA/charts
Marketwatch News ~ http://bigcharts.marketwatch.com/news/symbolsearch/symbolnews.asp?news=markadv&symb=PZZA&sid=1795093&framed=False
The Lion ~ http://thelion.com/bin/aio_msg.cgi?cmd=search&msg=&si=1&tw=1&tt=1&rb=1&ih=1&fo=1&iv=1&yf=1&sa=1&fb=1&gg=1&symbol=PZZA
Search NYSE ~ http://www.nyse.com/about/listed/lcddata.html?ticker=PZZA
StockTA ~ http://www.stockta.com/cgi-bin/analysis.pl?symb=PZZA&num1=567&cobrand=&mode=stock
StockHouse ~ http://www.stockhouse.com/financialtools/sn_overview.aspx?qm_symbol=PZZA
StockHouse Delayed LII ~ http://www.stockhouse.com/financialtools/sn_level2.aspx?qm_page=46140&qm_symbol=PZZA
AlphaTrade ~ http://tools.alphatrade.com/index.php?t1=mc_quote_module&t2=mc_quote_module2&t3=historical&template=historical2html&sym=PZZA&client_id=2740&a_width=680&a_height=1000&language=english&showVol=1&chtype=8
Reuters ~ http://www.reuters.com/finance/stocks/companyOfficers?symbol=PZZA.PK&WTmodLOC=C4-Officers-5
StockWatch ~ http://www.stockwatch.com/Quote/Detail.aspx?symbol=PZZA®ion=U
Search NASDAQ ~ http://www.nasdaq.com/symbol/PZZA
NASDAQ Divy History ~ http://www.nasdaq.com/symbol/PZZA/dividend-history
NASDAQ Short Interest ~ http://www.nasdaq.com/symbol/PZZA/short-interest
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/PZZA/institutional-holdings
NASDAQ FlashQuotes ~ http://www.nasdaq.com/aspx/flashquotes.aspx?symbol=PZZA&selected=PZZA
NASDAQ InfoQuotes ~ http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=PZZA&selected=PZZA
NASDAQ After Hours Quote ~ http://www.nasdaq.com/symbol/PZZA/after-hours
NASDAQ Pre-Market Quote ~ http://www.nasdaq.com/symbol/PZZA/premarket
NASDAQ Historical Quote ~ http://www.nasdaq.com/symbol/PZZA/historical
NASDAQ Option Chain ~ http://www.nasdaq.com/symbol/PZZA/option-chain
NASDAQ Company Headlines ~ http://www.nasdaq.com/symbol/PZZA/news-headlines
NASDAQ Press Releases ~ http://www.nasdaq.com/symbol/PZZA/news-headlines
NASDAQ Sentiment ~ http://www.nasdaq.com/symbol/PZZA/sentiment
NASDAQ Analyst Summary ~ http://www.nasdaq.com/symbol/PZZA/analyst-research
NASDAQ Guru Analysis~ http://www.nasdaq.com/symbol/PZZA/guru-analysis
NASDAQ Stock Report ~ http://www.nasdaq.com/symbol/PZZA/stock-report
NASDAQ Competitors ~ http://www.nasdaq.com/symbol/PZZA/competitors
NASDAQ Stock Consultant ~ http://www.nasdaq.com/symbol/PZZA/stock-consultant
NASDAQ Stock Comparison ~ http://www.nasdaq.com/symbol/PZZA/stock-comparison
NASDAQ Call Transcripts ~ http://www.nasdaq.com/symbol/PZZA/call-transcripts
NASDAQ Annual Reports ~ http://www.nasdaq.com/aspx/annualreport.aspx?symbol=PZZA&selected=PZZA
NASDAQ Financials ~ http://www.nasdaq.com/symbol/PZZA/financials
NASDAQ Revenue & Earnings Per Share (EPS) ~ http://www.nasdaq.com/symbol/PZZA/revenue-eps
NASDAQ SEC Filings ~ http://www.nasdaq.com/symbol/PZZA/sec-filings
NASDAQ Ownership Summary ~ http://www.nasdaq.com/symbol/PZZA/ownership-summary
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/PZZA/institutional-holdings
NASDAQ (SEC Form 4) ~
--------- All Trades ~ http://www.nasdaq.com/symbol/PZZA/insider-trades
--------- Buys ~ http://www.nasdaq.com/symbol/PZZA/insider-trades/buys
--------- Sells ~ http://www.nasdaq.com/symbol/PZZA/insider-trades/sells
The Motley Fool ~ http://caps.fool.com/Ticker/PZZA.aspx
The Motley Fool Earnings/Growth ~ http://caps.fool.com/Ticker/PZZA/EarningsGrowthRates.aspx?source=itxsittst0000001
The Motley Fool Ratios ~ http://caps.fool.com/Ticker/PZZA/Ratios.aspx?source=itxsittst0000001
The Motley Fool Stats ~ http://caps.fool.com/Ticker/PZZA/Stats.aspx?source=icasittab0000006
The Motley Fool Historical ~ http://caps.fool.com/Ticker/PZZA/Historical.aspx?source=icasittab0000004
The Motley Fool Scorecard ~ http://caps.fool.com/Ticker/PZZA/Scorecard.aspx?source=icasittab0000003
The Motley Fool Statements ~ http://caps.fool.com/Ticker/PZZA/Statements.aspx?source=icasittab0000009
MSN Money ~ http://investing.money.msn.com/investments/stock-ratings?symbol=PZZA
YCharts ~ http://ycharts.com/companies/PZZA
YCharts Performance ~ http://ycharts.com/companies/PZZA/performance
YCharts Dashboard ~ http://ycharts.com/companies/PZZA/dashboard
InsideStocks Opinion ~ http://www.insidestocks.com/texpert.asp?sym=PZZA&code=XDAILY
InsideStocks Profile ~ http://www.insidestocks.com/profile.asp?sym=PZZA&code=XDAILY
InsideStocks Quote ~ http://www.insidestocks.com/quote.asp?sym=PZZA&code=XDAILY
InsideStocks Projection ~ http://charts3.barchart.com/procal.asp?sym=PZZA
Zacks Quote ~ http://www.zacks.com/stock/quote/PZZA
Zacks Estimates ~ http://www.zacks.com/research/report.php?type=estimates&t=PZZA
Zacks Company Reports ~ http://www.zacks.com/research/report.php?type=report&t=PZZA
Knobias ~ http://knobias.10kwizard.com/files.php?sym=PZZA
StockScores ~ http://www.stockscores.com/quickreport.asp?ticker=PZZA
Trade-Ideas ~ http://www.trade-ideas.com/StockInfo/PZZA/.html
Morningstar ~ http://performance.morningstar.com/stock/performance-return.action?region=USA&t=PZZA&culture=en-US
Morningstar Shareholders ~ http://investors.morningstar.com/ownership/shareholders-overview.html?t=PZZA®ion=USA&culture=en-us
Morningstar Transcripts~ http://www.morningstar.com/earnings/NoTranscript.aspx?t=PZZA®ion=USA
Morningstar Key Ratios ~ http://financials.morningstar.com/ratios/r.html?t=PZZA®ion=USA&culture=en-US
Morningstar Executive Compensation ~ http://insiders.morningstar.com/trading/executive-compensation.action?t=PZZA®ion=USA&culture=en-us
Morningstar Valuation ~ http://financials.morningstar.com/valuation/price-ratio.html?t=PZZA®ion=USA&culture=en-us
CCBN (Thompson Reuters) ~ http://ccbn.aol.com/company.asp?client=aol&ticker=PZZA
TradingMarkets ~ http://pr.tradingmarkets.com/?lid=leftPRbox&sym=PZZA
OTCBB ~ http://www.otcbb.com/asp/SiteSearch.asp?Criteria=PZZA&searcharea=e&image1.x=0&image1.y=0
Insidercow ~ http://www.insidercow.com/history/company.jsp?company=PZZA&B1=Search%21
Forbes News ~ http://search.forbes.com/search/find?tab=searchtabgeneraldark&MT=PZZA
Forbes Press Releases ~ http://search.forbes.com/search/find?&start=1&tab=searchtabgeneraldark&MT=PZZA&pub=businesswire,prnewswire&searchResults=pressRelease&tag=pr&premium=on
Forbes Web ~ http://search.forbes.com/search/web?MT=UNGS&start=1&max=10&searchResults=web&tag=web&sort=null
YouTube Symbol Search ~ http://www.youtube.com/results?search_query=PZZA
Buy-Ins ~ http://www.buyins.net/tools/symbol_stats.php?sym=PZZA
Quotemedia ~ http://www.quotemedia.com/results.php?qm_page=47556&qm_symbol=PZZA
Earnings Whispers ~ http://www.earningswhispers.com/stocks.asp?symbol=PZZA
Bloomberg Snapshot ~ http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=PZZA
Bloomberg People ~ http://investing.businessweek.com/research/stocks/people/people.asp?ticker=PZZA
Financial Times ~ http://markets.ft.com/Research/Markets/Tearsheets/Summary?s=PZZA
Hoovers ~ http://www.hoovers.com/search/company-search-results/100003765-1.html?type=company&term=PZZA
DD Machine ~ http://www.ddmachine.com/default.asp?m=stocktool_frame.asp?symbol=PZZA
SEC Form 4 ~ http://www.secform4.com/insider/showhistory.php?cik=PZZA
OTCBB Pulse ~ http://www.otcbbpulse.com/cgi-bin/pulsequote.cgi?symbol=PZZA
Failures To Deliver ~ http://failurestodeliver.com/default2.aspx enter "PZZA" and click search.
http://www.coordinatedlegal.com/SecretaryOfState.html
http://regsho.finra.org/regsho-Index.html
http://www.shortsqueeze.com/?symbol=PZZA&submit=Short+Quote%99
DTCC (PENSON/TDA) Check - (otc and pinks) - Note ~ I did not check for this chart blast. However, I try and help you to do so with the following links.
IHUB DTCC BOARD SEARCH #1 http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=PZZA
IHUB DTCC BOARD SEARCH #2: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=14482&srchyr=2011&SearchStr=PZZA
Check those searches for recent PZZA mentions. If PZZA is showing up on older posts and not on new posts found in link below, The DTCC issues may have been addressed and fixed. Always call the broker if your security turns up on any DTCC/PENSON list.
http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=Complete+list
For a complete list see the pinned threads at the top here ---> http://tinyurl.com/TWO-OLD-FARTS
To ask me about PZZA click here ---> http://investorshub.advfn.com/boards/msgsearchbymember.aspx?searchID=251916&srchyr=2012&SearchStr=PZZA
MACDlinks
~ Monday! $PZZA ~ Earnings posted, pending or coming soon! In Charts and Links Below!
~ $PZZA ~ Earnings expected on Monday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=PZZA&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=PZZA&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=PZZA
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=PZZA#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=PZZA+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=PZZA
Finviz: http://finviz.com/quote.ashx?t=PZZA
~ BusyStock: http://busystock.com/i.php?s=PZZA&v=2
<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=PZZA >>>>>>
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
Papa John’s International, Inc. (NASDAQ: PZZA) today announced its 2012 operating assumptions and earnings guidance, and an increase in its 2011 earnings per share range to $2.15 to $2.20. The company projects 2012 earnings per share in the range of $2.33 to $2.43, including an ($0.11) impact of a one-time marketing incentive contribution (discussed below) largely offset by a 53rd week of operations in 2012.
“Our brand continues to perform very well in the marketplace as the Papa John’s team executes against our long-term growth plan,” commented Papa John’s Founder, Chairman and Chief Executive Officer, John Schnatter. “The plan has delivered better than expected results in 2011, and we look forward to continued strong performance in 2012.”
Significant 2012 Operational Assumptions
North America Restaurant Sales – North America system-wide comparable sales are expected to increase 1.5% to 2.5% in 2012. Company-owned and franchised restaurants are expected to produce relatively consistent comparable sales. The company expects national marketing spending in 2012 to approximate 2011 spend levels.
International Restaurant Sales – International comparable sales, presented on a constant-dollar basis, are expected to increase 1.5% to 3.5% in 2012. International comparable sales can be negatively impacted in a substantial number of emerging markets where second year sales for any given restaurant are compared against an unusually high “grand opening” level of first year sales. International comparable sales can also be positively or negatively impacted by significant levels of currency inflation or deflation within a given country. Total sales growth for international restaurants, including the 53rd week of operations, is expected to range from 20% to 25% in 2012, due to new unit growth and the expected comparable sales increase.
Worldwide Net Unit Growth – Worldwide net unit growth in 2012 is expected to be in the range of 240 to 280 units, consisting of a range of 110 to 130 net new units for North America and a range of 130 to 150 net new units for International. This represents approximately 4% unit growth for North America and 17% unit growth for International in 2012. The majority of worldwide net unit growth is expected to be franchised, driven by development incentives and franchisee financing initiatives.
Revenues – Total consolidated revenues are expected to increase 6% to 7% in 2012, including an increase of approximately 2% resulting from the 53rd week of operations. The increase of 4% to 5%, excluding the 53rd week of operations, is expected to result primarily from the projected North America and International net unit and comparable sales growth.
Marketing Incentive Contribution – In connection with a new multi-year supply agreement, the company will receive a one-time marketing incentive payment from a supplier in the first quarter of 2012, which the company will contribute to the Papa John’s National Marketing Fund (PJNMF) for the benefit of domestic Papa John’s restaurants. The company is required to recognize the supplier payment as income over the five-year term of the supply agreement, while its contribution to the PJNMF is required to be expensed when paid in the first quarter of 2012. The company’s contribution to the PJNMF will negatively impact diluted earnings per share by $0.13 in the first quarter of 2012 ($0.11 for full year 2012), and the company will recognize the remaining estimated $0.11 of income associated with the incentive payment evenly over the remaining term of the supply agreement, 2013 through 2016.
53 Week Year – The 2012 fiscal year will consist of 53 weeks. The impact of the 53rd week of operations is expected to increase earnings per share by approximately $0.08 to $0.10, substantially offsetting the negative impact in 2012 of the one-time marketing incentive contribution discussed above.
Pre-tax Income Margin – Consolidated pre-tax income margin in 2012 is expected to approximate or slightly exceed 2011 levels, including the negative impact of the one-time marketing incentive contribution discussed above.
Capital Expenditures – Capital expenditures for 2012 are expected to approximate $47 to $52 million. The capital expenditures are expected to consist of company-owned unit development in the U.S. and Beijing, China, routine capital replacement and certain technology-related projects designed to improve restaurant and commissary operating efficiency.
Share Repurchase Activity
The company announced an increase of $50 million in its authorization to repurchase common stock under its share repurchase program. In 2011, the company repurchased 2.0 million shares of stock at an average price of $31.21 per share, or a total of $63.6 million. The company has $73.2 million remaining available for repurchase under the most recent Board of Directors authorization through December 31, 2012.
2011 Guidance Raised
The company raised its diluted earnings per share guidance for 2011 to a range of $2.15 to $2.20, from the previous range of $2.08 to $2.15.
Annual Meeting Date Scheduled
Papa John’s today announced that its 2012 Annual Meeting of Stockholders will be held on April 26, 2012, at 11:00 am local time at the company’s corporate offices located at 2002 Papa John’s Boulevard, Louisville, Kentucky.
Forward Looking Statements
Certain matters discussed in this press release and other company communications constitute forward-looking statements within the meaning of the federal securities laws. Generally, the use of words such as “expect,” “estimate,” “believe,” “anticipate,” “will,” “forecast,” “plan,” “project,” or similar words identify forward-looking statements that we intend to be included within the safe harbor protections provided by the federal securities laws. Such statements may relate to projections concerning business performance, revenue, earnings, contingent liabilities, commodity costs, margins, unit growth and other financial and operational measures. Such statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict and many of which are beyond our control. Therefore, actual outcomes and results may differ materially from those matters expressed or implied in such forward-looking statements.
The risks, uncertainties and assumptions that are involved in our forward-looking statements include, but are not limited to: changes in pricing or other marketing or promotional strategies by competitors which may adversely affect sales, including an increase in or continuation of the current aggressive pricing and promotional environment; new product and concept developments by food industry competitors; the ability of the company and its franchisees to meet planned growth targets and operate new and existing restaurants profitably; general economic and political conditions and resulting impact on consumer buying habits; changes in consumer preferences; increases in or sustained high costs of food ingredients and other commodities, paper, utilities, fuel, employee compensation and benefits, insurance and similar costs (including the impact of federal health care legislation); the ability of the company to pass along increases in or sustained high costs to franchisees or consumers; the impact of current or future legal claims and current or proposed legislation impacting our business; the impact that product recalls, food quality or safety issues, and general public health concerns could have on our restaurants; currency exchange and interest rates; credit risk associated with parties to leases of restaurants and commissaries, including those Perfect Pizza locations formerly operated by us, for which we remain contractually liable; and increased risks associated with our international operations, including economic and political conditions in our international markets and difficulty in meeting planned sales targets for our international operations. These and other risk factors are discussed in detail in “Part I. Item 1A. - Risk Factors” of the Annual Report on Form 10-K for the fiscal year ended December 26, 2010 and “Part II. Item 1A. – Risk Factors” of the Quarterly Report on Form 10-Q for the fiscal quarter ended June 26, 2011. We undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.
Headquartered in Louisville, Kentucky, Papa John's International, Inc. (NASDAQ: PZZA) is the world's third largest pizza company. For 10 of the past 12 years, consumers have rated Papa John's No. 1 in customer satisfaction among all national pizza chains in the American Customer Satisfaction Index (ACSI). Papa John's is the Official Pizza Sponsor of the National Football League and Super Bowl XLV, XLVI and XLVII. For more information about the company or to order pizza online, visit Papa John's at www.papajohns.com.
Papa John's International, Inc. - Momentum
Papa John's International, Inc. (PZZA) is hotter than a freshly cooked pepperoni pizza, recently jumping into a new multi-year high on strong Q3 results that came in ahead of expectations. With estimates on the rise and a bullish growth projection, this Zacks #1 Rank stock is a tasty choice for momentum.
Company Profile
Papa John's International, Inc. operates and franchises pizza delivery and carry out restaurants in the United States. The company was founded in 1985 and has a market cap of $980 million.
PZZA saw big gains in October with the market, but shares got an extra boost on Nov 1 when the company reported strong Q3 results that came in well ahead of expectations.
Third-Quarter Results
Revenue for the period was up 12% from last year to $306 million. Earnings also came in strong at 44 cents, 7% ahead of the Zacks Consensus Estimate, where the company has an average earnings surprise of 7% over the last four quarters.
The good quarter was driven by a strong showing in same-store sales, up 5.3% in North America and 4.7% internationally.
And although international revenue comprises a small portion of the company's business, sales were up an impressive 31% from last year
Estimates
We saw some decent movement in estimates off the good quarter, with the current year up 4 cents to $2.12 while the next-year estimate added 10 cents to $2.49, a bullish 18% growth projection.
Valuation
But in spite of the gains, the valuation picture still looks solid, with a PEG ratio of 1 in line with the benchmark for value.
12-Month Chart
On the chart, PZZA saw big gains in October and early November, hitting a new multi-year high in the process. Take a look below.
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PAPA JOHNS INTL (PZZA): Free Stock Analysis Report
Zacks Investment Research
Nice news Papa John's! just like dominos Pizza sales are up bigly since 09!
latest financials:::::::::::::::::::::::::::::::::::::::::::::::
Papa John’s Announces Fourth Quarter and Full-Year 2009 Earnings
Date : 02/23/2010 @ 5:03PM
Source : Business Wire
Stock : Papa John’s International, Inc. (PZZA)
Quote : 24.55 0.52 (2.16%) @ 7:22AM
Papa John’s Announces Fourth Quarter and Full-Year 2009 Earnings
Papa John’s International, Inc. (NASDAQ: PZZA):
Highlights
Fourth quarter earnings per diluted share of $0.49 in 2009 vs. $0.46 in 2008 and full-year earnings per diluted share of $2.06 in 2009 vs. $1.30 in 2008
Fourth quarter earnings per diluted share, excluding noted items, were $0.41 in 2009 vs. $0.48 in 2008 and full-year earnings per diluted share, excluding noted items, were $1.50 in 2009 vs. $1.68 in 2008
Domestic system-wide comparable sales decreased 0.5% for the quarter and were even for the year
International franchise system sales increased 18% for the quarter (13% excluding the impact of foreign currency exchange rates) and 14% for the year (24% excluding the impact of foreign currency exchange rates)
11 net Papa John’s worldwide unit openings during the quarter and 89 net openings during the year
Earnings guidance for 2010 reaffirmed at a range of $1.70 to $1.90 per diluted share, excluding the impact of consolidating BIBP
Papa John’s International, Inc. (NASDAQ: PZZA) today announced revenues of $280.5 million for the fourth quarter of 2009, compared to revenues of $279.6 million in 2008. Net income for the fourth quarter of 2009 was $13.7 million, or $0.49 per diluted share (including after-tax income of $1.3 million, or $0.05 per diluted share, from the consolidation of the results of the franchisee-owned cheese purchasing company, BIBP Commodities, Inc. (“BIBP”), a variable interest entity, and a gain of $1.0 million, or $0.03 per diluted share, from the finalization of certain income tax issues), compared to 2008 fourth quarter net income of $12.8 million, or $0.46 per diluted share (including after-tax income of $600,000, or $0.02 per diluted share, from the consolidation of BIBP, a gain of $1.2 million, or $0.04 per diluted share, from the finalization of certain income tax issues and an after-tax charge of $2.2 million, or $0.08 per diluted share, related to restaurant impairment and disposition losses).
Consolidated revenues for 2009 were $1.11 billion, representing a decrease of 2.3% from revenues of $1.13 billion for 2008. Net income for 2009 was $57.5 million, or $2.06 per diluted share (including after-tax income of $14.6 million, or $0.52 per diluted share, from the consolidation of BIBP and a gain of $1.0 million, or $0.04 per diluted share, from the finalization of certain income tax issues), compared to net income of $36.8 million, or $1.30 per diluted share, for 2008 (including a net loss of $6.9 million, or $0.24 per diluted share, from the consolidation of BIBP, a gain of $1.7 million or $0.06 per diluted share from the finalization of certain income tax issues and an after-tax charge of $5.5 million, or $0.20 per diluted share, related to restaurant impairment and disposition losses).
“Our system had a solid fourth quarter and a very good 2009 in a challenging consumer environment,” said Papa John’s founder, chairman and chief executive officer, John Schnatter. “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.”
Non-GAAP Measures
Certain components of the financial information we present in this press release that exclude the impact of the consolidation of BIBP, the finalization of certain income tax issues and restaurant impairment and disposition losses are not measures that are defined in accordance with accounting principles generally accepted in the United States (“GAAP”). These non-GAAP measures should not be construed as a substitute for or a better indicator of the company’s performance than the company’s GAAP measures. Management believes the financial information excluding the impact of the above-mentioned items is important for purposes of comparison to prior periods and development of future projections and earnings growth prospects. Management analyzes the company’s business performance and trends excluding the impact of these items because they are not indicative of the principal operating activities of the company. In addition, annual cash bonuses, and certain long-term incentive programs for various levels of management, are based on financial measures that exclude the impact of the consolidation of BIBP. The presentation of the non-GAAP measures in this press release is made alongside the most directly comparable GAAP measures.
The company has provided the following table to reconcile the financial results we present in this press release excluding the impact of the above-mentioned items to our GAAP financial measures for the fourth quarters and years ended December 27, 2009 and December 28, 2008.
Fourth Quarter Year Ended Dec. 27, Dec. 28, Dec. 27, Dec. 28, (In thousands, except per share amounts) 2009 2008 2009 2008 Pre-tax income, net of noncontrolling interests, as reported $ 18,591 $ 19,435 $ 86,438 $ 56,776 (Gain) loss from BIBP cheese purchasing entity (1,560 ) (887 ) (22,543 ) 10,540 Restaurant impairment and disposition losses (a) - 3,747 - 8,818 Pre-tax income, net of noncontrolling interests, excluding noted items $ 17,031 $ 22,295 $ 63,895 $ 76,134 Net income, as reported $ 13,698 $ 12,776 $ 57,453 $ 36,796 (Gain) loss from BIBP cheese purchasing entity (1,300 ) (576 ) (14,586 ) 6,851 Restaurant impairment and disposition losses (a) - 2,222 - 5,496 Gain from finalization of certain income tax issues (967 ) (1,203 ) (967 ) (1,684 ) Net income, excluding noted items $ 11,431 $ 13,219 $ 41,900 $ 47,459 Earnings per diluted share, as reported $ 0.49 $ 0.46 $ 2.06 $ 1.30 (Gain) loss from BIBP cheese purchasing entity (0.05 ) (0.02 ) (0.52 ) 0.24 Restaurant impairment and disposition losses (a) - 0.08 - 0.20 Gain from finalization of certain income tax issues (0.03 ) (0.04 ) (0.04 ) (0.06 ) Earnings per diluted share, excluding noted items $ 0.41 $ 0.48 $ 1.50 $ 1.68 Cash flow from operations, as reported $ 100,913 $ 73,063 BIBP cheese purchasing entity (22,543 ) 10,540 Cash flow from operations, excluding BIBP $ 78,370 $ 83,603 (a) Amounts were not significant in 2009.
Revenues Comparison
Consolidated revenues were $280.5 million for the fourth quarter of 2009, an increase of $800,000, or 0.3%, over the corresponding 2008 period. The change in revenues for the fourth quarter of 2009 was primarily due to the following:
Domestic company-owned restaurant sales decreased $4.8 million, reflecting the sale of 62 lower-performing company-owned restaurants to franchisees during the fourth quarter of 2008 and a decrease of 1.4% in comparable sales during the fourth quarter of 2009.
Variable interest entities restaurant sales increased $8.5 million due to the consolidation of two additional franchise entities, as compared to the corresponding period in 2008.
Franchise royalties increased $800,000 primarily due to an increase in the royalty rate (increased from 4.25% to 4.50% effective in September 2009).
Domestic commissary sales decreased $3.4 million due to decreases in the prices of certain commodities, primarily cheese and wheat, partially offset by an increase in volumes.
Other sales decreased $1.1 million due primarily to a decline in sales at our print and promotions subsidiary, Preferred Marketing Solutions.
International revenues increased $1.1 million reflecting increases in both the number and average unit volumes of our company-owned and franchised restaurants over the comparable period, partially offset by lower franchise and development fee revenue due to fewer franchise unit openings in the current year period.
Revenues were $1.11 billion for the full year of 2009, a decrease of $26.1 million, or 2.3%, as compared to the corresponding 2008 period. The decrease in revenues for the full year of 2009 was primarily due to the decline in commissary sales reflecting the price decrease in certain commodities, as noted above and a decline in sales at our print and promotions subsidiary. The decrease in company-owned restaurant sales due to the sale of 62 restaurants to franchisees in the fourth quarter of 2008 was substantially offset by the increase in variable interest entities restaurant sales due to the consolidation of two additional franchise entities, as noted above.
Operating Results and Cash Flow
Operating Results
Our pre-tax income, net of noncontrolling interests, for the fourth quarter of 2009 was $18.6 million, compared to $19.4 million for the corresponding period in 2008. For the year ended December 27, 2009, pre-tax income, net of noncontrolling interests, was $86.4 million compared to $56.8 million for the corresponding period of 2008. Excluding the impact of the noted items in the previous table, fourth quarter 2009 pre-tax income, net of noncontrolling interests, was $17.0 million, a decrease of $5.3 million or 23.6%, from the 2008 comparable results of $22.3 million, and was $63.9 million for the year ended December 27, 2009, a decrease of $12.2 million, or 16.1%, from the 2008 comparable results of $76.1 million. An analysis of the changes in pre-tax income, net of noncontrolling interests, for the fourth quarter and full-year 2009, respectively (excluding the consolidation of BIBP), is summarized as follows (analyzed on a segment basis -- see the Summary Financial Data table that follows for the reconciliation of segment income to consolidated income below):
Domestic Company-owned Restaurant Segment. Domestic company-owned restaurants’ operating income increased $800,000 and $14.9 million for the fourth quarter and full year ended December 27, 2009, respectively, comprised of the following (in thousands):
Fourth Quarter Year Ended Dec. 27, Dec. 28, Increase Dec. 27, Dec. 28, Increase 2009 2008 (Decrease) 2009 2008 (Decrease) Operating income, excluding impairment and disposition losses $ 7,479 $ 7,556 $ (77 ) $ 35,551 $ 26,515 $ 9,036 Impairment and disposition losses (1) (567 ) (1,447 ) 880 (657 ) (6,518 ) 5,861 Total segment operating income $ 6,912 $ 6,109 $ 803 $ 34,894 $ 19,997 $ 14,897 (1) Total 2008 impairment and disposition charges of $3.7 million for the quarter and $8.8 million for the year included $2.3 million of impairment charges reported in the International segment.
Income from operations, excluding impairment and disposition losses, was relatively flat for the fourth quarter of 2009 as compared to the prior year. The increase of $9.0 million in income from operations, excluding impairment and disposition losses, for the full-year period was primarily due to lower commodity costs and the sale of 62 restaurants in late 2008 that were collectively unprofitable.
Restaurant operating margins on an external basis were 19.9% and 21.8% for the fourth quarter and year ended December 27, 2009, respectively, compared to 19.9% and 18.5%, for the comparable 2008 periods. Excluding the impact of the consolidation of BIBP, restaurant operating margins were 19.6% and 20.7% for the fourth quarter and year ended December 27, 2009, respectively, compared to 19.7% and 18.9% in the prior comparable periods.
The restaurant impairment and disposition losses recorded in 2008 primarily relate to the above-mentioned sale of restaurants.
Domestic Commissary Segment. Domestic commissaries’ operating income decreased approximately $1.3 million and $800,000 for the fourth quarter and year ended December 27, 2009, respectively. The decline in operating income for the fourth quarter of 2009, as compared to the corresponding 2008 period, was primarily due to pricing reductions. The decline in our full-year 2009 results, as compared to the corresponding 2008 period, was primarily due to $800,000 of management transition costs and $400,000 of costs associated with the closing of one of our commissaries. The decline in our operating income from reductions in pricing was more than offset by a decline in fuel costs for 2009.
Domestic Franchising Segment. Domestic franchising operating income increased approximately $600,000 to $14.1 million for the fourth quarter 2009, as compared to the corresponding 2008 period, and increased approximately $100,000 to $53.7 million for the year ended December 27, 2009, as compared to the corresponding 2008 period. The increase for the fourth quarter was primarily due to an increase in franchise royalties resulting from a 0.25% increase in the royalty rate (the standard rate increased from 4.25% to 4.50% in September 2009). The impact of the increase in the royalty rate on domestic franchise operating income for the year ended December 27, 2009 was substantially offset by lower franchise and development fees due to fewer unit openings and $500,000 in franchise renewal fees collected in 2008 in connection with the domestic franchise renewal program. The impact of the increased royalty rate for 2009 was also offset partially by additional development incentive programs offered by the company in 2009. During the fourth quarter and full year ended December 27, 2009, incentive payments of $215,000 and $440,000, respectively, were made to certain franchisees under our 25th Anniversary development incentive program for opening new units in advance of previously scheduled dates.
International Segment. The operating loss for the international segment improved $2.2 million and $4.1 million for the fourth quarter and year ended December 27, 2009, respectively, comprised of the following (in thousands):
Fourth Quarter Year Ended Dec. 27, Dec. 28, Increase Dec. 27, Dec. 28, Increase 2009 2008 (Decrease) 2009 2008 (Decrease) Operating income, excluding goodwill impairment and other charges $ (156 ) $ (441 ) $ 285 $ (2,586 ) $ (4,893 ) $ 2,307 Goodwill impairment (a) - (2,300 ) 2,300 - (2,300 ) 2,300 Other (b) (366 ) - (366 ) (464 ) - (464 )
Total segment operating loss
$ (522 ) $ (2,741 ) $ 2,219 $ (3,050 ) $ (7,193 ) $ 4,143 (a) The goodwill impairment charge was associated with our United Kingdom operations. (b) Includes pre-opening costs associated with our commissary in the United Kingdom that is under construction and costs associated with the closure of a company-owned restaurant in China.
The improvement in operating losses, excluding goodwill impairment and other charges, for the fourth quarter and year ended December 27, 2009, reflects increased revenues due to growth in number of units and unit volumes internationally. The rate of year-over-year improvement declined in the last half of 2009 due to slowing sales and unit growth attributable to general worldwide economic conditions.
All Others Segment. Operating income for the “All others” reporting segment decreased approximately $1.8 million and $6.5 million for the fourth quarter and year ended December 27, 2009, respectively, as compared to the corresponding 2008 periods. The decrease for the fourth quarter was primarily due to a decline of $1.2 million in our online ordering system business and due to more favorable adjustments in the 2008 period in claims loss reserves associated with our inactive captive insurance program. The decrease for the year ended December 27, 2009 was primarily due to a $3.9 million decline in our online ordering system business, a $1.3 million decline at our print and promotions subsidiary, Preferred Marketing Solutions, and the previously mentioned favorable adjustments in claims loss reserves in 2008. The decline in the online ordering system business reflected a reduction in the online fee percentage in accordance with our previously disclosed agreement with the domestic franchise system to operate the online business at a break-even level beginning in 2009. The decline in profitability in the print and promotions business was due to lower sales in 2009, as compared to 2008, reflecting the challenging U.S. economic environment.
Unallocated Corporate Segment. Unallocated corporate expenses increased approximately $1.8 million and $13.6 million for the fourth quarter and year ended December 27, 2009, respectively, as compared to the corresponding periods in the prior year. The components of unallocated corporate expenses were as follows (in thousands):
Fourth Quarter Year Ended Dec. 27, Dec. 28, Increase Dec. 27, Dec. 28, Increase 2009 2008 (decrease) 2009 2008 (decrease) General and administrative (a) $ 4,189 $ (974 ) $ 5,163 $ 26,893 $ 16,372 $ 10,521 Net interest 1,065 1,317 (252 ) 4,251 4,961 (710 ) Depreciation 2,233 2,017 216 8,684 7,770 914 Franchise support initiatives (b) 3,961 3,675 286 9,556 3,900 5,656 Provision (credit) for uncollectible accounts and notes receivable (c) (188 ) 3,491 (3,679 ) 1,172 4,082 (2,910 ) Other expense (income) (194 ) (258 ) 64 (801 ) (931 ) 130 Total unallocated corporate expenses $ 11,066 $ 9,268 $ 1,798 $ 49,755 $ 36,154 $ 13,601
(a) The increases in unallocated general and administrative expenses for the fourth quarter and full year ended December 27, 2009, were due to the following factors (in thousands):
Fourth Quarter Year Ended Dec. 27, Dec. 28, Increase Dec. 27, Dec. 28, Increase 2009 2008 (decrease) 2009 2008 (decrease) Severance and other management transition costs (1) $ - $ 125 $ (125 ) $ 1,607 $ 125 $ 1,482 Short- and long-term incentive compensation (2) 3,562 (1,785 ) 5,347 13,145 6,174 6,971 Litigation settlement - - - 1,065 - 1,065 Sponsorship fees (3) 724 563 161 3,907 3,334 573 Other expense (income), net (97 ) 123 (220 ) 7,169 6,739 430 Total unallocated general and administrative expenses $ 4,189 $ (974 ) $ 5,163 $ 26,893 $ 16,372 $ 10,521
(1) In addition to routine management transition costs, the company implemented a reduction-in-force during the third quarter of 2009 in which 35 positions were eliminated, mostly in corporate support areas. Severance and related costs associated with the reduction-in-force were approximately $900,000, and this action is expected to reduce future general and administrative costs by approximately $2.6 million annually.
(2) The increases were primarily due to 2008 reductions in equity-based compensation expense due to awards forfeited by former members of executive management upon resignation and a reduction in the expected payments under certain cash and equity-based compensation programs in 2008. Additionally, expected payments under certain 2009 incentive programs are higher in relation to improved performance versus targets.
(3) The Sponsorship fees are primarily associated with certain nontraditional venues, such as Six Flags.
(b) Franchise support initiatives primarily consist of discretionary contributions to the national marketing fund and other local advertising cooperatives.
(c) The fourth quarter and full-year 2008 provisions for uncollectible accounts and notes receivable included a provision associated with our loan issued in connection with the 2006 sale of the Perfect Pizza operation and increased provisions for various loans to domestic franchisees.
The company recorded reductions in its customary income tax expense of $1.2 million ($1.0 million for Papa John’s and $200,000 for BIBP) in both the fourth quarter and full year of 2009, compared to $1.2 million and $1.7 million for the fourth quarter and full year of 2008, respectively, related to the finalization of certain income tax issues. The effective income tax rate was 25.2% and 32.1% for the fourth quarter and year ended December 27, 2009, respectively, as compared to 33.2% and 34.0% for the fourth quarter and year ended December 28, 2008, respectively (25.9% and 31.1%, excluding BIBP, for the fourth quarter and year ended December 27, 2009, respectively, and 33.2% and 34.1%, excluding BIBP, for the fourth quarter and year ended December 28, 2008, respectively).
Cash Flow
Net cash provided by operating activities was $100.9 million for the full-year 2009 as compared to $73.1 million for 2008. The consolidation of BIBP increased cash flow from operations by approximately $22.5 million in 2009 and decreased cash flow from operations by approximately $10.5 million in 2008. Excluding the impact of the consolidation of BIBP, cash flow from operations was $78.4 million in 2009, as compared to $83.6 million in the comparable period in 2008. The $5.2 million decrease in cash flow from operations, excluding the consolidation of BIBP, was primarily due to reductions in net income from operations, excluding impairment and disposition losses.
Our net debt position, defined as total debt less cash and cash equivalents, was $70.8 million at December 27, 2009, compared to $119.7 million at December 28, 2008.
Form 10-K Filing
See the Management’s Discussion and Analysis of Financial Condition and Results of Operations section of our Annual Report on Form 10-K filed with the Securities and Exchange Commission for additional information concerning our operating results and cash flow for the full year ended December 27, 2009.
Domestic Comparable Sales and Unit Count
Domestic system-wide comparable sales for the fourth quarter of 2009 decreased 0.5% (comprised of a 1.4% decrease at company-owned restaurants and a 0.2% decrease at franchised restaurants). Domestic system-wide comparable sales for the full-year 2009 were even (comprised of a 0.5% decrease at company-owned restaurants and a 0.1% increase at franchised restaurants). The comparable sales percentage represents the change in year-over-year sales for the same base of restaurants for the same calendar period.
During the fourth quarter of 2009, 21 domestic franchised restaurants were opened and 42 domestic restaurants were closed (two company-owned and 40 franchised). During the full year of 2009, we opened 84 domestic restaurants (five company-owned and 79 franchised) and closed 95 restaurants (eight company-owned and 87 franchised). The 95 closures included 26 non-traditional units closed in connection with the termination of a third-party sponsorship arrangement. Our total domestic development pipeline as of December 27, 2009 included approximately 200 restaurants, a substantial majority of which are scheduled to open over the next four years.
At December 27, 2009, there were 3,469 domestic and international Papa John’s restaurants (614 company-owned and 2,855 franchised) operating in all 50 states and in 29 countries. The company-owned restaurants include 127 restaurants operated in majority-owned domestic joint venture arrangements, the operating results of which are fully consolidated into the company’s results.
International Update
Highlights:
During the fourth quarter of 2009, we signed development agreements in Columbia (30 units), Morocco (20 units) and Chile (25 units). We anticipate opening our first restaurant in each of these countries during 2010.
During the fourth quarter of 2009, 43 international restaurants were opened (three company-owned and 40 franchised) while 11 international franchised restaurants were closed. For the full-year 2009, 132 international restaurants were opened (four company-owned and 128 franchised) while 32 international restaurants were closed (one company-owned and 31 franchised).
International franchise sales increased approximately 18% to $66.5 million in the fourth quarter of 2009, from $56.3 million in the comparable period in 2008 and increased approximately 14% to $251.8 million for the full-year 2009, from $221.0 million in the comparable period in 2008. Excluding the impact of foreign currency exchange rates, the increases in the fourth quarter and full-year 2009 would have approximated 13% and 24%, respectively.
As of December 27, 2009, there were 688 Papa John’s restaurants operating internationally (26 company-owned and 662 franchised), of which 220 were located in Korea and China and 142 were located in the United Kingdom and Ireland. Our total international development pipeline as of December 27, 2009 included approximately 1,200 restaurants, the substantial majority of which are scheduled to open over the next eight years.
Share Repurchase Activity
The company repurchased 1.0 million shares of its common stock at an average price of $22.52 per share, or a total of $23.5 million, during the fourth quarter of 2009, and repurchased 1.3 million shares at an average price of $21.59 per share, or a total of $28.5 million during all of 2009. A total of 14,000 and 612,000 shares of common stock were issued upon the exercise of stock options for the fourth quarter and full year ended December 27, 2009, respectively. Subsequent to year-end, through February 16, 2010, the company repurchased an additional $967,000 of common stock (43,000 shares at an average price of $22.61 per share). At February 16, 2010, $32.8 million remained available for repurchase under our current authorization.
The company utilizes a written trading plan under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, to facilitate the repurchase of shares of our common stock under this share repurchase program. There can be no assurance that we will repurchase shares of our common stock either through our Rule 10b5-1 trading plan or otherwise. We may terminate the Rule 10b5-1 trading plan at any time.
There were 27.7 million diluted weighted average shares outstanding for the fourth quarter of 2009, as compared to 27.6 million for the same period in 2008. Approximately 27.2 million actual shares of the company’s common stock were outstanding as of December 27, 2009.
The company’s share repurchase activity increased earnings per diluted share, excluding the impact of the consolidation of BIBP, by $0.02 for the full year of 2009 (no impact for the fourth quarter).
2010 Earnings and Comparable Sales Guidance Reaffirmed
The company reaffirmed its previously issued guidance for 2010 domestic system-wide comparable sales of a range of negative 1% to positive 1% and for 2010 earnings per diluted share of a range of $1.70 to $1.90, excluding the impact of the consolidation of BIBP.
Forward-Looking Statements
Certain matters discussed in this press release and other company communications constitute forward-looking statements within the meaning of the federal securities laws. Generally, the use of words such as “expect,” “estimate,” “believe,” “anticipate,” “will,” “forecast,” “plan,” project,” or similar words identify forward-looking statements that we intend to be included within the safe harbor protections provided by the federal securities laws. Such statements may relate to projections concerning revenue, earnings, unit growth and other financial and operational measures. Such statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict and many of which are beyond our control. Therefore, actual outcomes and results may differ materially from those matters expressed or implied in such forward-looking statements.
The risks, uncertainties and assumptions that are involved in our forward-looking statements include, but are not limited to: changes in pricing or other marketing or promotional strategies by competitors which may adversely affect sales; new product and concept developments by food industry competitors; the ability of the company and its franchisees to meet planned growth targets and operate new and existing restaurants profitably; general economic conditions and resulting impact on consumer buying habits; changes in consumer preferences; increases in or sustained high costs of food ingredients and other commodities, paper, utilities, fuel, employee compensation and benefits, insurance and similar costs; the ability of the company to pass along such increases in or sustained high costs to franchisees or consumers; the company is contingently liable for the payment of certain lease arrangements, approximating $5.8 million, involving our former Perfect Pizza operations that were sold in March 2006; the impact of legal claims and current proposed legislation impacting our business; and increased risks associated with our international operations. These and other risk factors are discussed in detail in “Part I. Item 1A. - Risk Factors” of the Annual Report on Form 10-K for the fiscal year ended December 27, 2009. We undertake no obligation to update publicly any forward-looking statements, whether as a result of future events, new information or otherwise.
Conference Call
A conference call is scheduled for February 24, 2010 at 10:00 a.m. Eastern Time to review fourth quarter and full-year earnings results. The call can be accessed from the company’s web page at www.papajohns.com in a listen-only mode, or dial 800-487-2662 (pass code 95830124) for participation in the question and answer session. International participants may dial 706-679-8452 (pass code 95830124).
The conference call will be available for replay, including by downloadable podcast, beginning February 24, 2010, at approximately noon Eastern Time, through March 3, 2010, at midnight Eastern Time. The replay can be accessed from the company’s web site at www.papajohns.com or by dialing 800-642-1687 (pass code 95830124). International participants may dial 706-645-9291 (pass code 95830124).
Summary Financial Data
Papa John's International, Inc.
(Unaudited)
Fourth Quarter Year Ended Dec. 27, Dec. 28, Dec. 27, Dec. 28, (In thousands, except per share amounts) 2009 2008 2009 2008 Revenues $ 280,478 $ 279,646 $ 1,106,033 $ 1,132,087 Income before income taxes, net of noncontrolling interests* $ 18,591 $ 19,435 $ 86,438 $ 56,776 Net income $ 13,698 $ 12,776 $ 57,453 $ 36,796 Earnings per share - assuming dilution $ 0.49 $ 0.46 $ 2.06 $ 1.30 Weighted average shares outstanding - assuming dilution 27,679 27,639 27,909 28,264 EBITDA (1) $ 28,301 $ 28,985 $ 124,279 $ 96,310 *The following is a summary of our income (loss) before income taxes, net of noncontrolling interests: Fourth Quarter Year Ended Dec. 27, Dec. 28, Dec. 27, Dec. 28, (in thousands) 2009 2008 2009 2008 Domestic company-owned restaurants (A) $ 6,912 $ 6,109 $ 34,894 $ 19,997 Domestic commissaries 6,758 8,036 29,393 30,235 Domestic franchising 14,057 13,444 53,690 53,610 International (B) (522 ) (2,741 ) (3,050 ) (7,193 ) All others 1,786 3,618 2,697 9,175 Unallocated corporate expenses (11,066 ) (9,268 ) (49,755 ) (36,154 ) Elimination of intersegment profit (52 ) (49 ) (218 ) (332 ) Income before income taxes, excluding VIEs 17,873 19,149 67,651 69,338 VIEs, primarily BIBP (2) 1,560 887 22,543 (10,540 ) Less: noncontrolling interests (842 ) (601 ) (3,756 ) (2,022 )
Total income before income taxes, net of noncontrolling interests
$ 18,591 $ 19,435 $ 86,438 $ 56,776 (A) Includes pre-tax losses of $1.4 million and $6.5 million in the fourth quarter and year ended December 28, 2008, respectively, associated with restaurant impairment and disposition losses. (B) Includes a goodwill impairment charge of $2.3 million in both the fourth quarter and year ended December 28, 2008, associated with our PJUK operations.
Summary Financial Data (continued)
Papa John's International, Inc.
(Unaudited)
The following is a reconciliation of EBITDA to net income (in thousands): Fourth Quarter Year Ended Dec. 27, Dec. 28, Dec. 27, Dec. 28, 2009 2008 2009 2008 EBITDA (1) $ 28,301 $ 28,985 $ 124,279 $ 96,310 Income tax expense (4,893 ) (6,659 ) (28,985 ) (19,980 ) Net interest (1,220 ) (1,704 ) (5,085 ) (6,688 ) Depreciation and amortization (8,490 ) (7,846 ) (32,756 ) (32,846 ) Net income $ 13,698 $ 12,776 $ 57,453 $ 36,796 The company's free cash flow for the last two years is as follows (in thousands): Year Ended Dec. 27, Dec. 28, 2009 2008 Net cash provided by operating activities $ 100,913 $ 73,063 Gain (loss) from BIBP cheese purchasing entity (22,543 ) 10,540 Purchase of property and equipment (33,538 ) (29,271 ) Free cash flow (3) $ 44,832 $ 54,332
(1) Management considers EBITDA to be a meaningful indicator of operating performance from operations before depreciation, amortization, net interest and income taxes. EBITDA provides us with an understanding of one aspect of earnings before the impact of investing and financing transactions and income taxes. While EBITDA should not be construed as a substitute for net income or a better indicator of liquidity than cash flows from operating activities, which are determined in accordance with accounting principles generally accepted in the United States (“GAAP”), it is included herein to provide additional information with respect to the ability of the company to meet its future debt service, capital expenditure and working capital requirements. EBITDA is not necessarily a measure of the company’s ability to fund its cash needs and it excludes components that are significant in understanding and assessing our results of operations and cash flows. In addition, EBITDA is not a term defined by GAAP and as a result our measure of EBITDA might not be comparable to similarly titled measures used by other companies. The above EBITDA calculation includes the operating results of BIBP Commodities, Inc., a variable interest entity.
(2) BIBP generated pre-tax income of approximately $1.6 million in the fourth quarter of 2009, which was composed of income associated with cheese sold to domestic company-owned and franchised restaurants of approximately $400,000 and $1.3 million, respectively, partially offset by interest expense on outstanding debt with a third party bank and Papa John’s during the fourth quarter. For the fourth quarter of 2008, BIBP reported pre-tax income of $900,000, which was primarily composed of income associated with cheese sold to domestic company-owned and franchised restaurants of approximately $300,000 and $1.0 million, respectively, partially offset by interest expense on outstanding debt with a third-party bank and Papa John’s.
BIBP generated pre-tax income of approximately $22.5 million for the year ended December 27, 2009, which was composed of income associated with cheese sold to domestic company-owned and franchised restaurants of approximately $5.5 million and $18.1 million, respectively, partially offset by interest expense on debt outstanding with a third-party bank and Papa John’s during 2009. For the year ended December 28, 2008, BIBP reported a pre-tax loss of $10.5 million, which was composed of losses associated with cheese sold to domestic company-owned and franchised restaurants of approximately $2.1 million and $6.3 million, respectively. The remainder of the loss was due to interest expense on outstanding debt with a third-party bank and Papa John’s.
(3) Free cash flow is defined as net cash provided by operating activities (from the consolidated statements of cash flows) excluding the impact of BIBP, less the purchase of property and equipment. We view free cash flow as an important measure because it is one factor that management uses in determining the amount of cash available for discretionary investment. Free cash flow is not a term defined by GAAP and as a result our measure of free cash flow might not be comparable to similarly titled measures used by other companies. Free cash flow should not be construed as a substitute for or a better indicator of the company’s performance than the company’s GAAP measures.
For more information about the company, please visit www.papajohns.com.
Papa John's International, Inc. and Subsidiaries Consolidated Statements of Income Three Months Ended Years Ended December 27, 2009 December 28, 2008 December 27, 2009 December 28, 2008 (In thousands, except per share amounts) (Unaudited) (Unaudited) Revenues: Domestic: Company-owned restaurant sales $ 125,124 $ 129,923 $ 503,818 $ 533,255 Variable interest entities restaurant sales 10,485 2,035 37,735 8,328 Franchise royalties 15,959 15,122 61,012 59,704 Franchise and development fees 69 239 519 1,600 Commissary sales 104,452 107,896 407,437 429,068 Other sales 13,346 14,493 54,045 61,415 International: Royalties and franchise and development fees 3,448 3,414 13,244 12,868 Restaurant and commissary sales 7,595 6,524 28,223 25,849 Total revenues 280,478 279,646 1,106,033 1,132,087 Costs and expenses: Domestic Company-owned restaurant expenses: Cost of sales 27,079 28,420 100,863 120,545 Salaries and benefits 35,935 37,597 146,116 158,276 Advertising and related costs 11,660 11,814 45,593 48,547 Occupancy costs 7,876 8,446 31,685 34,973 Other operating expenses 17,682 17,767 69,946 72,349 Total domestic Company-owned restaurant expenses 100,232 104,044 394,203 434,690 Variable interest entities restaurant expenses 8,676 1,815 29,672 7,360 Domestic commissary and other expenses: Cost of sales 88,400 91,169 341,775 363,042 Salaries and benefits 7,778 8,270 33,839 35,090 Other operating expenses 10,455 9,660 43,595 45,732 Total domestic commissary and other expenses 106,633 109,099 419,209 443,864 Loss (income) from the franchise cheese-purchasing program, net of minority interest (1,343 ) (1,039 ) (18,079 ) 6,296 International operating expenses 6,519 5,464 24,356 22,822 General and administrative expenses 25,154 19,102 112,909 99,723 Other general expenses 5,464 11,575 15,728 19,000 Depreciation and amortization 8,490 7,846 32,756 32,846 Total costs and expenses 259,825 257,906 1,010,754 1,066,601 Operating income 20,653 21,740 95,279 65,486 Net interest (1,220 ) (1,704 ) (5,085 ) (6,688 ) Income before income taxes 19,433 20,036 90,194 58,798 Income tax expense 4,893 6,659
28,985
19,980 Net income, including noncontrolling interests 14,540 13,377 61,209 38,818 Less: income attributable to noncontrolling interests (842 ) (601 ) (3,756 ) (2,022 ) Net income, net of noncontrolling interests $ 13,698 $ 12,776 $ 57,453 $ 36,796 Basic earnings per common share $ 0.50 $ 0.46 $ 2.07 $ 1.31 Earnings per common share - assuming dilution $ 0.49 $ 0.46 $ 2.06 $ 1.30 Basic weighted average shares outstanding 27,603 27,639 27,738 28,124 Diluted weighted average shares outstanding 27,679 27,639 27,909 28,264 Note: The statements of income for the years ended December 27, 2009 and December 28, 2008 have been derived from the audited consolidated financial statements at those dates, but do not include all information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements. Papa John's International, Inc. and Subsidiaries Condensed Consolidated Balance Sheets December 27, December 28, 2009 2008 (Note) (Note) (In thousands) Assets Current assets: Cash and cash equivalents $ 28,219 $ 10,987 Accounts receivable 22,144 23,775 Inventories 15,767 16,872 Prepaid expenses 9,113 9,797 Other current assets 3,748 5,275 Assets held for sale - 1,540 Deferred income taxes 8,408 7,102 Total current assets 87,399 75,348 Investments 1,382 530 Net property and equipment 194,242 189,992 Notes receivable 8,643 7,594 Deferred income taxes 6,804 17,518 Goodwill 76,475 76,914 Other assets 22,150 18,572 Total assets $ 397,095 $ 386,468 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 28,675 $ 29,148 Income and other taxes 5,854 9,685 Accrued expenses 54,241 54,220 Current portion of debt - 7,075 Total current liabilities 88,770 100,128 Unearned franchise and development fees 5,668 5,916 Long-term debt, net of current portion 99,050 123,579 Other long-term liabilities 18,570 18,607 Total liabilities 212,058 248,230 Total stockholders' equity 185,037 138,238 Total liabilities and stockholders' equity $ 397,095 $ 386,468 Note: The balance sheets at December 27, 2009 and December 28, 2008 have been derived from the audited consolidated financial statements at those dates, but do not include all information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements. Papa John's International, Inc. and Subsidiaries Consolidated Statements of Cash Flows Years Ended (In thousands) December 27, 2009 December 28, 2008 Operating activities Net income, net of noncontrolling interests $ 57,453 $ 36,796 Adjustments to reconcile net income to net cash provided by operating activities: Restaurant impairment and disposition losses 657 8,818 Provision for uncollectible accounts and notes receivable 2,242 5,769 Depreciation and amortization 32,756 32,846 Deferred income taxes 7,469 (3,608 ) Stock-based compensation expense 5,817 2,564 Excess tax benefit related to exercise of non-qualified stock options (1,035 ) (771 ) Other 1,486 1,255 Changes in operating assets and liabilities, net of acquisitions: Accounts receivable 154 (5,162 ) Inventories 1,114 1,833 Prepaid expenses 706 914 Other current assets 2,009 446 Other assets and liabilities (3,813 ) (2,913 ) Accounts payable (1,879 ) (2,009 ) Income and other taxes (3,831 ) (1,181 ) Accrued expenses (144 ) (2,166 ) Unearned franchise and development fees (248 ) (368 ) Net cash provided by operating activities 100,913 73,063 Investing activities Purchase of property and equipment (33,538 ) (29,271 ) Purchase of investments (1,187 ) (632 ) Proceeds from sale or maturity of investments 335 927 Loans issued (11,635 ) (1,468 ) Loan repayments 8,496 2,017 Acquisitions (464 ) (183 ) Proceeds from divestitures of restaurants 830 2,145 Other 756 233 Net cash used in investing activities (36,407 ) (26,232 ) Financing activities Net repayments from line of credit facility (24,500 ) (10,500 ) Net repayments from short-term debt - variable interest entities (7,075 ) (1,625 ) Excess tax benefit related to exercise of non-qualified stock options 1,035 771 Proceeds from exercise of stock options 9,830 4,623 Acquisition of Company common stock (28,477 ) (37,697 ) Noncontrolling interests, net of contributions and distributions (84 ) 217 Other 734 82 Net cash used in financing activities (48,537 ) (44,129 ) Effect of exchange rate changes on cash and cash equivalents 176 (592 ) Change in cash and cash equivalents 16,145 2,110 Cash recorded from consolidation of VIEs 1,087 - Cash and cash equivalents at beginning of year 10,987 8,877 Cash and cash equivalents at end of year $ 28,219 $ 10,987 Note: The cash flows at December 27, 2009 and December 28, 2008 have been derived from the audited consolidated financial statements at those dates, but do not include all information and footnotes required by accounting principles generally accepted in the United States for a complete set of financial statements. Restaurant Progression Papa John's International, Inc. Fourth Quarter Ended December 27, 2009 Corporate Franchised Domestic Int'l Domestic Int'l Total Papa John's restaurants Beginning of period 590 23 2,212 633 3,458 Opened - 3 21 40 64 Closed (2 ) - (40 ) (11 ) (53 ) Acquired - - - - - Sold - - - - - End of Period 588 26 2,193 662 3,469 Fourth Quarter Ended December 28, 2008 Corporate Franchised Domestic Int'l Domestic Int'l Total Papa John's restaurants Beginning of period 649 21 2,128 519 3,317 Opened 5 1 27 52 85 Closed - - (17 ) (5 ) (22 ) Acquired - 1 62 - 63 Sold (62 ) - - (1 ) (63 ) End of Period 592 23 2,200 565 3,380 Restaurant Progression Papa John's International, Inc. Year Ended December 27, 2009 Corporate Franchised Domestic Int'l Domestic Int'l Total Papa John's restaurants Beginning of period 592 23 2,200 565 3,380 Opened 5 4 79 128 216 Closed (8 ) (1 ) (87 ) (31 ) (127 ) Acquired 11 - 12 - 23 Sold (12 ) - (11 ) - (23 ) End of Period 588 26 2,193 662 3,469 Year Ended December 28, 2008 Corporate Franchised Domestic Int'l Domestic Int'l Total Papa John's restaurants Beginning of period 648 14 2,112 434 3,208 Opened 14 10 98 145 267 Closed (9 ) (2 ) (71 ) (13 ) (95 ) Acquired 1 1 62 - 64 Sold (62 ) - (1 ) (1 ) (64 ) End of Period 592 23 2,200 565 3,380
For the Ibox::::::::::::::
http://en.wikipedia.org/wiki/Papa_John's_Pizza
No affiliation as of yet,.....however,........this is one of those odd coincidences( Our "as of yet" undiscovered board) that drive me to do things like buy "pizza stock".
I guess to answer your question,....I will likely take a small position as soon as possible.
How odd indeed,....no board
Karmasaur, welcome to the PZZA board;
Was going through some stocks last night and could not believe there was no board.
Any afilliation?
Good luck.
number 1 post,...woooohooooo,.......
I think the pizza is a bit "doughy" to invest in though.
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Yep, it is publicly traded. Will update the board ASAP.
Type | Public (NASDAQ: PZZA) |
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Founded | 1984 |
Headquarters | Louisville, Kentucky, U.S. |
Key people | John Schnatter, Founder |
Industry | Food Wholesale |
Products | Pizza, breadsticks, chicken wings, soft drinks, desserts |
Website | www.papajohns.com |
Papa John's Pizza (NASDAQ: PZZA) is the third largest take-out and delivery pizza restaurant chain in the United States, behind Pizza Hut and Domino's Pizza.[1] It is based in Louisville, Kentucky. Papa John's slogan is "Better Ingredients. Better Pizza."
Internationally, there are over 3,300 Papa John's establishments, including over 2,600 in the U.S. and more than 500 in over 30 other countries.[2][3]
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The founder of Papa John's, John Schnatter, began his pizza career at Rocky's Sub Pub in Jeffersonville, Indiana, while attending Jeffersonville High School. John graduated from Jeffersonville High in 1980, and continued his association with the pizza business while attending Ball State University, working as a delivery driver for Greek's Pizzeria in Muncie. Upon graduating, he began working for his father, who was co-owner of the bar Mick's Lounge in Jeffersonville. In 1983, he sold his car (a 1971 Chevrolet Camaro Z28) to buy out the other owner of the bar, and started serving pizza to customers.
The corporation credits its growth to great customer service, quality products, and menu simplicity, in contrast with other chains' focus on low prices. Fewer options in crust styles and side dishes simplify inventory management, meaning the focus could remain on quality. However, since the mid-1990s, Papa John's has followed the industry trend and greatly expanded its menu options, adding thin-crust, pan pizza, and whole wheat crust options (all available in one size only); "robusto", barbecue, and Alfredo sauces; 10 specialty pizzas, many with new toppings and new cheeses; chicken strips and three flavors of chicken wings; many dessert pastries, such as apple pie; and new variations of bread sticks and cheese sticks.
The thin crust has been advertised as crispier than others (similar to St. Louis-style pizza) and the "robusto" sauce introduced with the pan crust has chunky tomato pieces and more vibrant spice notes. To simplify in-store operations and to provide product consistency between stores, many functions such as dough production are carried out by an off-site commissary system similar to that of most other fast food chains.
In 2009, with the pizzeria chain firmly established, Schnatter set out to find his beloved '71 Camaro. After a few months, the original buyers of the car saw Schnatter mention his search for the car in a TV interview. They had sold the car only five years prior for $4,000 to Jeffrey Robinson of Flatwoods, Ky., who collected the $250,000 reward for returning it to Schnatter. The buyers Schnatter had sold the car to in 1983 were paid a $25,000 finder's fee.[4]
We conclude that (1) the slogan, standing alone, is not an objectionable statement of fact upon which consumers would be justified in relying, and thus not actionable under section 43(a); and (2) while the slogan, when utilized in connection with some of the post-May 1997 comparative advertising--specifically, the sauce,dough and stuff campaigns--conveyed objectionable and misleading facts, Pizza Hut has failed to adduce any evidence demonstrating that the facts conveyed by the slogan were material to the purchasing decisions of the consumers to which the slogan was directed. —Summary statement from appellate decision in Pizza Hut, Inc. v. Papa John’s Int’l, Inc. |
In 1997, Pizza Hut sued Papa John's based on a series of advertisements that compared the ingredients of Papa John's and its competitors. At trial, the court agreed with Pizza Hut's argument that Papa John's slogan did not constitute statements of literal fact – that "fresher ingredients" do not necessarily account for a "better" pizza; this ruling was overturned in 2000 when Papa John's appealed the decision. Although the jury's decision on the misleading advertising was upheld, the appeals court determined that Pizza Hut failed to prove, under the requirements of the Lanham Act, that the misleading advertising and puffery had a material effect on consumers' purchasing decisions.[5]
Papa John's primarily takes carryout and delivery orders, although some stores have tables and chairs. Papa John's offers online ordering throughout the United States, automatically assigning all registered customers to the closest location.
The structure of a Papa John's restaurant is typical of that seen in many fast food outlets, with a salaried store manager presiding over day-to-day operations, and several salaried or hourly assistant managers and shift managers presiding over in-store and delivery team members. Above the store management is an area supervisor who is generally supervised by a franchisee or; in corporate stores, a director of operations reports to an operational vice president.
Franchise stores owners pay a royalty fee 5% of net sales to Papa John's International, and up to 7% of net sales on advertising efforts.[6] Corporate operations looks over franchisees to ensure brand consistency.
As of January 2008[update], there were over 3,330 Papa John's restaurants operating in all 50 U.S. states and 30 international markets. Papa John's International is a publicly traded company, with 30% of shares owned by John Schnatter.
Papa John's became one of the first major pizza chains to include a dipping sauce with every original crust or square pan pizza, as well as a peperoncini pepper, a traditional Italian garnish.
In January 2002, Papa John's became the first national pizza chain to make online ordering available to all of its U.S. customers.[7] Most other national chains subsequently added online ordering to their services. Online ordering is also available in Canada, South Korea, the United Kingdom, and Ireland.
On March 30, 2006, Six Flags announced that it will sell only pizza from Papa John's at its parks. In turn, Six Flags will receive an annual sponsorship and promotional opportunities from Papa John's. Papa John's is also the official pizza supplier of the Olympic Speedskating Oval in Calgary, Alberta, Canada. On November 16, 2006, the company signed on with ESPN Regional Television to become the title sponsor of the annual PapaJohns.com Bowl, a college post-season football bowl game in Birmingham, Alabama.
Papa John's is credited with developing the most advanced dynamic resource control infrastructure in the fast food industry. Sources within the company have stated the centralized network is modeled after NORAD's Cheyenne Mountain Operations Center. As of January 2007[update], all Papa John's retail locations were linked via fiber optic cables to national headquarters.[8] Real-time updates are made at the company's Louisville national inventory control center, where operations research experts (many recruited from the 2002 layoffs at Enron) allocate deliverymen and pizza ingredients to areas experiencing surges in pizza demand.[9]
Papa John's received negative media attention in May 2008 when a Washington, D.C. franchise distributed t-shirts making fun of Cleveland Cavaliers star player LeBron James at a playoff game against the Washington Wizards. Photographs of the shirts quickly spread from the blogosphere[10] to Cleveland television. Increasing awareness of the controversy prompted an apology from the Papa John's national headquarters on May 5.[11] To apologize, Papa John's offered large single-topping pizzas for 23 cents (matching James' jersey number) at all locations in Greater Cleveland and throughout northern Ohio. The chain sold over 172,000 pizzas at 23 cents a piece, with customers waiting in lines outside of some stores for as long as three hours.[12]
In 2009, Schnatter began a nation-wide campaign to find the Z28 Camaro he sold in order to start his first Papa John's store. With the help of the automotive website Jalopnik, the car was traced to the town of Flatwoods, Kentucky, where it was owned by one Jeff Robertson. Robertson had kept the car in excellent condition, even adding a larger motor for drag racing (he reported the car doing a 9.55 quarter mile) and exhibiting the vehicle in car shows. He sold the car back to Schnatter in August of that year, cashing a check for $250,000; in addition, Schnatter offered $25,000 to the family who had originally purchased the car from him in 1983 and tipped off Jalopnik to its whereabouts. In honor of the re-acquisition of the car, Papa John's announced that anyone who drove a Camaro to a Papa John's location on August 26 would receive one free pizza.
Papa John's operated under the company name "Papiano's" in East Lansing, Michigan, because a pre-existing local chain of pizza restaurants in this area already laid claim to the name "Papa John's" before the major chain was formed.[13] The location closed in 2008 and reopened as another pizzeria.[14]
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