Papa John's International Inc. (PZZA) Tuesday reported first-quarter profit of $19.3 million or $0.85 per share, up from $17.0 million or $0.69 per share in the comparable quarter last year.
Adjusted earnings for the quarter was $19.1 million or $0.84 per share. On average, five analysts polled by Thomson Reuters expected the company to earn $0.81 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased 7.3 percent to $355.6 million from $331.3 million last year/ Analysts expected revenues of $364.34 million.
Global restaurant sales growth was 6.1 percent, flat with last year.
Looking ahead, the company has raised its full-year 2013 earnings outlook to a range of $2.90 to $3.00 per share, up from the previous guidance range of $2.85 to $2.95 per share. Analysts currently expect full-year earnings of $2.96 per share.
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