Exhibit 99.1
 
 
For more information, contact:
David Flanery
Chief Financial Officer
502-261-4753

PAPA JOHN’S ANNOUNCES
FOURTH QUARTER AND FULL-YEAR 2009 EARNINGS

2010 Earnings Guidance Reaffirmed

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

Louisville, Kentucky (February 23, 2010) – 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).

 

The following information was filed by Papa Johns International Inc (PZZA) on Tuesday, February 23, 2010 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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