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Domino's Pizza posts 33% Q3 profit increase

Published: 19:38 18 Oct 2011 BST

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Domino's Pizza (NYSE:DPZ) announced Tuesday a 33 percent increase in third quarter profits, as the company posted strong domestic and international sales growth.

For the three months ending September 11, the company said net income was 22.1 million, or 36 cents per share, compared to 16.6 million, or 27 cents per share, a year earlier.

Adjusted for lower interest expenses versus last year, the pizza delivery chain reported earnings of 35 cents for the latest quarter.

Domestic same store sales, or those of stores open at least one year, rose 3.0 percent versus the year-ago period, while the international division posted comparable sales growth of 8.1 percent.

Global retail sales, or total worldwide retail sales at company-owned and franchise stores, grew 9.1 percent excluding foreign currency impact to nearly $1.6 billion. Of this, $771 million of sales were from domestic markets, while $813 million were made up of international revenue.

Sales were up due to higher commodity prices impacting the company's supply chain revenues, higher same store sales, and store count growth in international markets, Domino's said.

Partially offsetting these increases were lower company-owned store revenues due to the sale of these stores during both the first and third quarter of this year, the company added.

"We posted strong global same store sales, international store growth and a 30% increase in EPS in the third quarter.  We're proud of that performance," said president and CEO, J. Patrick Doyle.

"In the face of these uncertain economic times, Domino's has continued to prove its resiliency.  This quarter is yet another example of how increasing loyalty from our customers is driving terrific results around the world."

Founded in 1960, Domino's Pizza operates a network of 9,541 franchised and company-owned stores in the United States and over 70 international markets.

Shares of the company rose 6.8 percent Tuesday afternoon, to trade at $29.76 as of 2:38pm EST.

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