January 31, 2013

Dunkin' Brands Reports Fourth Quarter and Full Year 2012 Results

CANTON, Mass., Jan. 31, 2013 /PRNewswire/ -- 

Fourth quarter highlights include:

  • 3.2 percent Dunkin' Donuts U.S. comparable store sales growth
  • Added 256 net new restaurants worldwide including 149 net new Dunkin' Donuts in the U.S.
  • Adjusted operating income up 16.1% on a 13-week basis
  • Adjusted operating income margin to 47.6%
  • Adjusted EPS up approximately 21% to $0.34 on a 13-week basis

Fiscal year 2012 highlights include:

  • Added 665 net new restaurants worldwide including 291 net new Dunkin' Donuts in the U.S.
  • Revenue up 6.1% and adjusted operating income up 15.3% on a 52-week basis
  • Adjusted operating income margin to 46.3%
  • Adjusted EPS up approximately 38% to $1.28 on a 52-week basis
  • Board of Directors declare $0.19 first quarter dividend for a 27% increase over the Company's fourth quarter 2012 dividend

Dunkin' Brands Group, Inc. (Nasdaq: DNKN), the parent company of Dunkin' Donuts (DD) and Baskin-Robbins (BR), today reported results for the fourth quarter and fiscal year ended December 29, 2012.

(Logo: http://photos.prnewswire.com/prnh/20120516/NE07970LOGO )

"The fourth quarter was strong, and we finished 2012 delivering 15 percent plus adjusted operating income growth and nearly 40 percent adjusted earnings per share growth year-over-year," said Nigel Travis, Chief Executive Officer, Dunkin' Brands Group, Inc., and President, Dunkin' Donuts U.S. "We have the unique combination of strong brand heritage and significant U.S. and global restaurant expansion opportunities, which we are capitalizing on to drive profitable growth for both our franchisees and shareholders. Our contiguous, strategic development approach is working, and we're excited to begin selling  Dunkin' Donuts franchises in California. Despite macro-economic instability and a tough competitive environment, consumer and franchisee demand for Dunkin' Donuts is high, our franchisee relationships are strong, and we continue to leverage our asset-light business model giving us confidence to target 15 percent plus adjusted earnings per share growth in 2013."

FISCAL YEAR 2012 KEY FINANCIAL HIGHLIGHTS














($ in millions, except per share data)

Fiscal year ended


Increase (Decrease)

% Change
Excluding
Impact of
Extra Week1


December 29,
2012

December 31,
2011


$/#

%








Franchisee reported sales

$

8,771.3

8,343.9


427.5

5.1%


Systemwide sales growth

5.2%

9.1%




7.0%

Comparable store sales growth:







     DD U.S. comparable store sales growth

4.2%

5.1%





     BR U.S. comparable store sales growth

3.8%

0.5%





     DD International comparable store sales growth

2.0%






     BR International comparable store sales growth

2.8%






Development data:







     Consolidated net POD development

665

601


64

10.6%


     DD global PODs at period end

10,479

10,083


396

3.9%


     BR global PODs at period end

6,980

6,711


269

4.0%


     Consolidated global PODs at period end

17,459

16,794


665

4.0%


Financial data:







     Revenues

$

658.2

628.2


30.0

4.8%

6.1%

     Operating income

239.4

205.3


34.1

16.6%

19.1%

     Operating income margin

36.4%

32.7%





     Adjusted operating income2

$

307.2

270.7


36.4

13.5%

15.3%

     Adjusted operating income margin2

46.3%

43.1%





     Net income

$

108.3

34.4


73.9

214.5%

231.9%

     Adjusted net income2

149.7

101.7


48.0

47.1%

49.8%

Earnings (loss) per share:







     Class L — basic and diluted

$                n/a   

6.14


n/a   

n/a


     Common — basic

0.94

(1.41)


2.35

n/a


     Common — diluted

0.93

(1.41)


2.34

n/a


     Diluted adjusted earnings per pro forma

     common share2

1.28

0.94


0.34

36.2%

37.6%

     Pro forma weighted average number of

     common shares — diluted (in millions)

116.6

107.7


8.9

8.3%


(amounts and percentages may not recalculate due to rounding)

FOURTH QUARTER 2012 KEY FINANCIAL HIGHLIGHTS

($ in millions, except per share data)

Three months ended


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