Printer Friendly

IHOP CORP. ANNOUNCES FIRST QUARTER GAINS

 IHOP CORP. ANNOUNCES FIRST QUARTER GAINS
 GLENDALE, Calif., April 30 /PRNewswire/ -- IHOP Corp. (NASDAQ: IHOP)


today reported its net income and sales for the first quarter ended March 31, 1992.
 For the quarter, IHOP's net income was $972,000, a 127 percent increase over last year's $428,000. Net income per common share was $.11 (based on 8.9 million shares outstanding) vs. $.07 (based on 5.5 million shares outstanding) for the comparable 1991 period.
 Richard K. Herzer, chief executive officer of the company, stated, "We continue to be pleased with the progress of our company during these difficult economic times. Our new television commercials are encouraging a good traffic flow on a nationwide basis."
 System-wide sales, the retail sales of all International House of Pancakes restaurants, increased 12.2 percent to $111 million for the first quarter of 1992 vs. the comparable period in 1991.
 System-wide comparable sales per restaurant increased 7.0 percent for the first quarter of 1992 vs. the first quarter in the prior year.
 The company develops, franchises and operates International House of Pancakes restaurants, one of America's best-known national family restaurant chains. As of March 31, 1992, the IHOP system included 504 restaurants, 341 of which were operated by franchisees, 56 of which were operated by the company and 107 of which were operated by area licensees. IHOP restaurants are located in 35 states, Canada and Japan, with the greatest concentration of restaurants in Southern California, New York/New Jersey, Florida and Texas.
 IHOP CORP. AND SUBSIDIARIES
 Selected Financial Data
 (In thousands, except per share data)
 First Quarter Ended
 March 31,
 1992 1991
 Revenues $24,304 $22,616
 Income before income taxes 1,642 735
 Net income 972 428
 Net income per common share .11 .07
 Weighted average shares
 outstanding 8,898(a) 5,487
 (a) Increase in shares primarily because of initial public offering on July 12, 1991.
 -0- 4/30/92
 /CONTACT: Larry Alan Kay, executive VP, or Frederick G. Silny, VP-finance, of IHOP, 818-240-6055/
 (IHOP) CO: IHOP Corp. ST: California IN: LEI SU: ERN


KJ-JL -- LA008 -- 4741 04/30/92 08:31 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 30, 1992
Words:353
Previous Article:ELI LILLY & CO. ENTERS INTO COLLABORATION WITH BIOJECT
Next Article:CAMBRIDGE BIOTECH REPORTS FIRST QUARTER 1992 RESULTS


Related Articles
IHOP CORP. ANNOUNCES 48 PERCENT INCREASE IN FIRST QUARTER NET INCOME
IHOP CORP. FIRST QUARTER NET INCOME UP 57 PERCENT
IHOP CORP. ANNOUNCES RECORD REVENUES AND EARNINGS FOR THE SECOND QUARTER
IHOP CORP. ANNOUNCES RECORD THIRD QUARTER REVENUES AND EARNINGS
IHOP CORP. REPORTS RECORD SECOND QUARTER
IHOP Corp. September 1996 Same Stores Sales Up 1.8%; New Store Openings Forecast Revised To 65-70 For 1996
IHOP Corp. Reports Record Third Quarter
IHOP Corp. Announces Record First Quarter
IHOP Corp. Reports New Record for Second Quarter Net Income
IHOP Corp. Reports First Quarter 2003 Results.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters