Comparable sales results for the period and quarter were negatively impacted by the timing of the Easter holiday, which has lower sales volumes than a typical Sunday. The Easter holiday occurred in the March period in 2005 as compared to the April period in 2004. The estimated reduction in comparable sales results of approximately 1.5% for the March period and 0.5% for the first quarter is expected to reverse and have a favorable impact on April and second quarter results.
Total system-wide international sales increased 14.2% for March and 12.9% for the quarter, on a constant U.S. dollar basis, over the comparable periods last year.
First quarter earnings results will be released at the close of the market on Monday, May 2, 2005. In connection with the earnings release, the Company will update its assessment of full year earnings guidance (previously a range of $2.27 to $2.35 per share, excluding the impact of the consolidation of the BIBP cheese purchasing entity), and will also update its assessment of the expected impact of the consolidation of BIBP on the Company's earnings (previously an increase of $0.13 per share for the year).
At March 27, 2005, there were 2,845 Papa John's restaurants (570 company-owned and 2,275 franchised) operating in 49 states and 18 countries. Papa John's also franchises 114 Perfect Pizza restaurants in the United Kingdom. For more information about the company, visit Papa John's at http://www.papajohns.com.
CONTACT: Papa John's International Inc., Louisville
David Flanery, 502-261-4753
SOURCE: Papa John's International, Inc.