Food Industry
Industry: Email Alert RSS FeedIHOP 3rd-q net and revenues drop; same-store sales up 1.3%
Nation's Restaurant News, Nov 6, 2006
GLENDALE, CALIF. -- IHOP Corp. said its third-quarter profit had decreased 5.4 percent from a year earlier to $11.3 million, on a 3.6-percent drop in revenues to $88 million. Per-share earnings remained flat at 62 cents, as shares outstanding were reduced by 6.6 percent for the latest quarter through the company's ongoing share repurchase program.
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Systemwide same-store sales increased 1.3 percent, the company said. IHOP is franchisor or operator of 1,278 IHOP or International House of Pancakes restaurants.
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