DineEquity Inc. (DIN), the parent company of Applebee's Neighborhood Grill & Bar and IHOP Restaurants, reported third-quarter net income available to stockholders of $7.877 million compared to a net loss of $16.411 million last year. Earnings per share available to shareholders was $0.46 compared to a net loss of $0.98 per share last year.
Net income available to stockholders, as adjusted, was $9.261 million compared to a loss of $1.366 million last year. Adjusted earnings per share available to stockholders was $0.55 compared to a loss of $0.08 per share prior year.
On average, 7 analysts polled by Thomson Reuters expected the company to report profit of $0.30 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues decreased to $333.551 million from $391.181 million a year ago. Analysts expected revenue of $337.23 million for the quarter.
IHOP Restaurants' domestic system-wide same-store sales decreased 1.1% and Applebee's domestic system-wide same-tore sales decreased 6.5%.
The company reiterated IHOP Restaurants' domestic system-wide same-store sales performance expectations to range between positive 1% and negative 1% for the full year 2009.
The company revised Applebee's domestic system-wide same-store sales performance expectations to perform at the lower end of the previously expected range of between negative 2% to negative 5% for the full year 2009.
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