DineEquity Inc. (DIN) reported that its fourth-quarter GAAP net income available to common stockholders was $18.0 million, or $0.97 per share, compared to $27.3 million, or $1.51 per share in the same quarter in 2011. The decrease was primarily due to a lower gain on the disposition of assets, as expected, lower segment profit due to the refranchise and sale of Applebee's company-operated restaurants and higher income taxes. These items were partially offset by lower interest expense, a decline in general and administrative expenses, and the reduced impact from debt extinguishment.
Adjusted net income available to common stockholders was $15.5 million, or $0.83 per share, compared to $16.4 million, or $0.91 per share in the year ago quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.82 per share for the quarter. Analysts' estimates typically exclude special items.
The decrease in adjusted earnings was mainly due to, as expected, lower segment profit caused by the refranchise and sale of Applebee's company-operated restaurants and higher income taxes. These items were partially offset by lower cash interest expense and lower general and administrative expenses.
Total segment revenues for the quarter declined to $158.64 million from $242.18 million in the year ago quarter. Five analysts had consensus revenue estimate of $161.87 million for the quarter.
The company expects its business model to generate continued strong free cash flow in 2013.
Applebee's domestic system-wide same-restaurant sales performance for 2013 is expected to be between negative 1.5% and positive 1.5%. Franchise segment profit is expected to be between $312 million and $325 million for 2013. Consolidated general and administrative expenses for 2013 are expected to decrease to between $144 million and $147 million, including non-cash stock-based compensation expense and depreciation of approximately $19 million, due to the comprehensive general and administrative cost reduction initiatives implemented in 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.