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Dominos Pizza Inc (DPZ) SEC Filing 10-K Annual report for the fiscal year ending Sunday, January 3, 2016

Dominos Pizza Inc

CIK: 1286681 Ticker: DPZ

Exhibit 99.1

 

LOGO

 

 

 

    For Immediate Release

  

 

 

Contact: Lynn Liddle, Executive Vice President,

Communications, Investor Relations and Legislative Affairs

(734) 930-3008

Domino’s Pizza® Announces 2015 Financial Results

Strong Sales and Store Count Growth Cap Outstanding Year

ANN ARBOR, Michigan, February 25, 2016: Domino’s Pizza, Inc. (NYSE: DPZ),

the recognized world leader in pizza delivery, today announced results for the fourth quarter and fiscal 2015, comprised of strong growth in same store sales, global store counts and earnings. Domestic same store sales grew 10.7% during the quarter versus the year-ago period, and 12.0% for the full year, continuing the positive sales momentum in the Company’s domestic business. The international division also posted strong results, with same store sales growth of 8.6% during the quarter and 7.8% for the full year. The fourth quarter marked the 88th consecutive quarter – or 22nd full year – of positive international same store sales growth. The Company also had global net store growth of 901 stores in 2015, comprised of 133 net new domestic stores and a record 768 net new stores internationally.

On an as-reported basis, fourth quarter diluted EPS was $1.18, up 38.8% over the prior-year quarter; full year diluted EPS was $3.47, up 21.3% over the prior year. Management noted that the as-reported diluted EPS for both the fourth quarter and fiscal year was negatively impacted by expenses related to the Company’s recapitalization, which was completed during the fourth quarter, and was positively impacted by the inclusion of an extra, or 53rd, week in the fourth quarter of 2015. On an as-adjusted basis, fourth quarter diluted EPS was $1.15, up 26.4% over the prior-year quarter; full year as-adjusted diluted EPS was $3.45, up 19.0% over the prior year.

In connection with the Company’s recapitalization, as further discussed below, the Company borrowed $1.3 billion, and used a portion of the proceeds to retire a portion of its existing debt and enter into a $600 million accelerated share repurchase (ASR) program. As part of the ASR, the Company received and retired 4,858,994 shares of its common stock during the quarter. Additionally, on February 24, 2016, the Board of Directors declared a 38-cent per share quarterly dividend for shareholders of record as of March 15, 2016 to be paid on March 30, 2016. This represents a 22.6% increase over the previous quarterly dividend amount.

“Our network of strong franchisees has become even more profitable during these years of continued positive same store sales growth,” said J. Patrick Doyle, Domino’s President and Chief Executive Officer. “Great store economics around the world have led to accelerated unit growth. It’s a positive cycle and the momentum continued through 2015.”

Fourth Quarter and Fiscal 2015 Highlights:

 

(dollars in millions, except per share data)    Fourth
Quarter of
2015
     Fourth
Quarter of
2014
     Fiscal
2015
     Fiscal
2014
 

Net income

   $ 62.8       $ 48.0       $ 192.8       $ 162.6   

Weighted average diluted shares

     53,351,075         56,777,007         55,532,955         56,931,226   

Diluted earnings per share, as reported

   $ 1.18       $ 0.85       $ 3.47       $ 2.86   

Items affecting comparability*

     (0.02      0.06         (0.02      0.04   
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted earnings per share, as adjusted*

   $ 1.15       $ 0.91       $ 3.45       $ 2.90   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

* Refer to the Items Affecting Comparability section on page three for additional details. Diluted earnings per share, as adjusted figures may not sum to the total due to the rounding of each individual calculation.

 

  Revenues were up 15.3% for the fourth quarter versus the prior year period largely due to the estimated $49.7 million positive impact of the 53rd week in 2015. Revenue growth was also driven by higher supply chain volumes and sales of equipment to stores in connection with the Company’s global store reimaging program. Higher domestic same store sales and store count growth, which resulted in increased royalties from franchised stores and higher revenues at Company-owned stores, also contributed to this increase. International revenues also benefited from increased same store sales and store count growth, and were offset in part by the negative impact of foreign currency.

 

  Net Income was up 30.7% for the fourth quarter versus the prior year period, driven by domestic and international same store sales growth, global store count growth and higher supply chain volumes. The estimated $6.3 million positive impact of the 53rd week, and the non-recurrence of an asset impairment charge in the fourth quarter of 2014 also contributed to the increase. These increases were offset in part by the negative impact of foreign currency exchange rates and, to a lesser extent, expenses related to the Company’s recapitalization.

 

  Diluted EPS increases, as noted earlier, were due to higher net income and lower weighted average diluted shares outstanding. (See the Items Affecting Comparability section and the Comments on Regulation G section.)

 

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The following information was filed by Dominos Pizza Inc (DPZ) on Thursday, February 25, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Dominos Pizza Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Deficit
Capital Structure
Capital Structure (tables)
Capital Structure - Additional Information (detail)
Carrying Amounts And Fair Values Of Certain Assets (detail)
Classification Of Net Deferred Income Taxes (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Components Of Consolidated Provision For Income Taxes (detail)
Condensed Financial Information Of The Registrant - Additional Information (detail)
Consolidated Long-term Debt (detail)
Consolidated Long-term Debt (parenthetical) (detail)
Description Of Business And Summary Of Significant Accounting Policies
Description Of Business And Summary Of Significant Accounting Policies (policies)
Description Of Business And Summary Of Significant Accounting Policies (tables)
Description Of Business And Summary Of Significant Accounting Policies - Additional Information (detail)
Differences Between Statutory Income Tax Provision And Consolidated Provision For Income Taxes (detail)
Earnings Per Share
Earnings Per Share (detail)
Earnings Per Share (tables)
Earnings Per Share - Additional Information (detail)
Employee Benefits
Employee Benefits - Additional Information (detail)
Equity Incentive Plans
Equity Incentive Plans (tables)
Equity Incentive Plans - Additional Information (detail)
Estimated Useful Lives Of Property Plant And Equipment Excluding Capital Lease Assets (detail)
Fair Value Measurements
Fair Value Measurements (tables)
Financial Information By Operating Segment (detail)
Financial Instruments With Off-balance Sheet Risk
Financial Instruments With Off-balance Sheet Risk - Additional Information (detail)
Future Minimum Rental Commitments For All Non-cancelable Leases (detail)
Goodwill (detail)
Identifiable Asset Information (detail)
Income Before Provision For Income Taxes (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Inventories (detail)
Maturities Of Long-term Debt And Capital Lease Obligations (detail)
Parent Company Condensed Balance Sheets (detail)
Parent Company Condensed Balance Sheets (parenthetical) (detail)
Parent Company Condensed Statements Of Cash Flows (detail)
Parent Company Condensed Statements Of Income And Comprehensive Income (detail)
Periodic Financial Data (detail)
Periodic Financial Data (unaudited; In Thousands, Except Per Share Amounts)
Periodic Financial Data (unaudited; In Thousands, Except Per Share Amounts) (tables)
Recapitalizations And Financing Arrangements
Recapitalizations And Financing Arrangements (tables)
Recapitalizations And Financing Arrangements - Additional Information (detail)
Reconciliation Of Total Segment Income To Consolidated Income Before Provision For Income Taxes (detail)
Restricted Stock And Performance-based Restricted Stock Activity Related To Equity Incentive Plans (detail)
Sale And Closure Of Company-owned Stores
Sale And Closure Of Company-owned Stores - Additional Information (detail)
Schedule I - Condensed Financial Information Of The Registrant
Schedule Ii - Valuation And Qualifying Accounts
Segment Information
Segment Information (tables)
Segment Information - Additional Information (detail)
Share Components Of Outstanding Common Stock (detail)
Significant Components Of Net Deferred Income Taxes (detail)
Stock Options Activity Related To Equity Incentive Plans (detail)
Stock Options Valuation Assumptions (detail)
Subsequent Events
Subsequent Events - Additional Information (detail)
Unrecognized Tax Benefits (detail)
Valuation And Qualifying Accounts (detail)
Ticker: DPZ
CIK: 1286681
Form Type: 10-K Annual Report
Accession Number: 0001193125-16-476935
Submitted to the SEC: Thu Feb 25 2016 7:36:28 AM EST
Accepted by the SEC: Thu Feb 25 2016
Period: Sunday, January 3, 2016
Industry: Wholesale Groceries And Related Products

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