Papa John’s International, Inc (PZZA) has reported 32.13 percent jump in profit for the quarter ended Dec. 25, 2016. The company has earned $32.63 million, or $0.88 a share in the quarter, compared with $24.70 million, or $0.62 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $25.61 million, or $0.69 a share compared with $24.70 million or $0.62 a share, a year ago. Revenue during the quarter grew 5.47 percent to $439.62 million from $416.82 million in the previous year period. Gross margin for the quarter contracted 40 basis points over the previous year period to 20.97 percent. Total expenses were 88.31 percent of quarterly revenues, down from 90.35 percent for the same period last year. This has led to an improvement of 204 basis points in operating margin to 11.69 percent.
Operating income for the quarter was $51.41 million, compared with $40.23 million in the previous year period.
“We are pleased to have delivered another excellent year in 2016,” said Papa John’s founder, chairman and Chief executive officer, John Schnatter. “Thanks to the efforts of the entire Papa John’s family, we opened our 5,000th global unit and increased our digital mix to over 55% -- all while delivering on our clear label promises and generating strong comp sales and another year of record earnings.”
Operating cash flow declines
Papa John’s International, Inc has generated cash of $144.06 million from operating activities during the year, down 10.14 percent or $16.26 million, when compared with the last year. The company has spent $46.27 million cash to meet investing activities during the year as against cash outgo of $38.95 million in the last year.
The company has spent $102.83 million cash to carry out financing activities during the year as against cash outgo of $120.13 million in the last year period.
Cash and cash equivalents stood at $15.56 million as on Dec. 25, 2016, down 25.91 percent or $5.44 million from $21.01 million on Dec. 27, 2015.
Working capital declines
Papa John’s International, Inc has witnessed a decline in the working capital over the last year. It stood at $17.54 million as at Dec. 25, 2016, down 10.73 percent or $2.11 million from $19.65 million on Dec. 27, 2015. Current ratio was at 1.14 as on Dec. 25, 2016, down from 1.15 on Dec. 27, 2015.
Debt moves up
Papa John’s International, Inc has witnessed an increase in total debt over the last one year. It stood at $299.82 million as on Dec. 25, 2016, up 17.51 percent or $44.67 million from $255.15 million on Dec. 27, 2015. Papa Johns International has witnessed an increase in long-term debt over the last one year. It stood at $299.82 million as on Dec. 25, 2016, up 17.51 percent or $44.67 million from $255.15 million on Dec. 27, 2015. Total debt was 58.49 percent of total assets as on Dec. 25, 2016, compared with 51.55 percent on Dec. 27, 2015. Debt to equity ratio was at 30.59 as on Dec. 25, 2016, up from 6.05 as on Dec. 27, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
