ANN ARBOR, Mich., Oct. 14, 2014 /PRNewswire/ -- Domino's
Pizza, Inc. (NYSE: DPZ), the recognized world leader in
pizza delivery, today announced results for the third quarter of
2014, comprised of strong growth in same store sales, global store
counts and earnings. Domestic same store sales grew 7.7% during the
quarter versus the year-ago period, continuing the positive sales
momentum in the Company's domestic business. The international
division also posted strong results with same store sales growth of
7.1%, marking the 83rd consecutive quarter of
international same store sales growth. The Company had global net
store growth of 160 stores in the quarter.
Diluted EPS was 63 cents for the
third quarter, which was up 18.9% over the Company's reported EPS
in the prior year quarter, and up 23.5% over the Company's adjusted
EPS in the prior year quarter. During the quarter, the Company
repurchased 242,700 shares of its common stock for approximately
$17.4 million. The Board of
Directors also declared a 25 cent per
share quarterly dividend for shareholders of record as of
December 15, 2014 to be paid on
December 30, 2014.
J. Patrick Doyle, Domino's
President and Chief Executive Officer, said: "Great people,
food, service and technology have helped us deliver another strong
quarter of global sales and profits. Our franchisees continued to
drive vigorous store growth worldwide and have embraced our 'Pizza
Theater' store reimage program in neighborhoods around the
world."
Third Quarter Highlights:
(dollars in
millions, except per share data)
|
Third Quarter of
2014
|
|
Third Quarter of
2013
|
|
Three
Fiscal
Quarters of
2014
|
|
Three Fiscal
Quarters of
2013
|
Net
income
|
$ 35.6
|
|
$ 30.6
|
|
$ 114.6
|
|
$ 98.3
|
|
|
|
|
|
|
|
|
Weighted average
diluted shares
|
56,610,608
|
|
57,345,677
|
|
57,030,669
|
|
57,831,660
|
|
|
|
|
|
|
|
|
Diluted earnings
per share, as reported
|
$ 0.63
|
|
$ 0.53
|
|
$ 2.01
|
|
$ 1.70
|
Items affecting
comparability*
|
-
|
|
(0.02)
|
|
(0.02)
|
|
(0.02)
|
Diluted earnings
per share, as adjusted*
|
$ 0.63
|
|
$ 0.51
|
|
$ 1.98
|
|
$ 1.68
|
|
* Refer to the
Items Affecting Comparability section on page three for
additional details. Diluted earnings per share figures may
not sum to the total due to the rounding of each individual
calculation.
|
- Revenues were up 10.5% for the third quarter versus the
prior year period, due primarily to higher supply chain revenues
from increased volumes in the supply chain centers and elevated
commodity prices, specifically cheese, as well as increased sales
of equipment and supplies to stores as our store reimaging program
accelerates. Additionally, sales and store growth contributed
to increased revenues in all business segments.
- Net Income was up 16.3% for the third quarter versus the
prior year period, primarily driven by domestic and international
same store sales growth and global store count growth, as well as
increased supply chain volumes.
- Diluted EPS was 63 cents
for the third quarter versus 53 cents
in the prior year quarter. The diluted EPS of 63 cents for the quarter was 12 cents, or 23.5% higher than the prior year
adjusted EPS of 51 cents. This
increase was due to higher net income and lower weighted average
diluted shares outstanding. (See the Items Affecting
Comparability section and the Comments on Regulation G
section.)
The table below outlines certain statistical measures utilized
by the Company to analyze its performance. Refer to the
Comments on Regulation G section on page four for additional
details.
|
Third quarter
of 2014
|
|
Third quarter
of 2013
|
|
|
Same store sales
growth: (versus prior year period)
|
|
|
|
|
|
Domestic
Company-owned stores
|
+ 6.1%
|
|
+ 4.6%
|
|
|
Domestic
franchise stores
|
+ 7.8%
|
|
+ 5.5%
|
|
|
Domestic
stores
|
+ 7.7%
|
|
+ 5.4%
|
|
|
International
stores (excluding foreign currency impact)
|
+ 7.1%
|
|
+ 5.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Global retail
sales growth: (versus prior year period)
|
|
|
|
|
|
Domestic
stores
|
+ 9.3%
|
|
+ 6.2%
|
|
|
International
stores
|
+ 17.9%
|
|
+ 8.5%
|
|
|
Total
|
+ 13.8%
|
|
+ 7.4%
|
|
|
|
|
|
|
|
|
Global retail
sales growth: (versus prior year period,
excluding
foreign currency impact)
|
|
|
|
|
|
Domestic
stores
|
+ 9.3%
|
|
+ 6.2%
|
|
|
International
stores
|
+15.2%
|
|
+13.9%
|
|
|
Total
|
+12.4%
|
|
+10.2%
|
|
|
|
|
Domestic
Company-owned
Stores
|
|
Domestic Franchise
Stores
|
|
Total
Domestic
Stores
|
|
International
Stores
|
|
Total
|
Store
counts:
|
|
|
|
|
|
|
|
|
|
Store count at June
15, 2014
|
376
|
|
4,626
|
|
5,002
|
|
6,119
|
|
11,121
|
Openings
|
-
|
|
23
|
|
23
|
|
160
|
|
183
|
Closings
|
-
|
|
(9)
|
|
(9)
|
|
(14)
|
|
(23)
|
Store count at
September 7, 2014
|
376
|
|
4,640
|
|
5,016
|
|
6,265
|
|
11,281
|
Third quarter 2014
net change
|
-
|
|
14
|
|
14
|
|
146
|
|
160
|
Trailing four
quarters net change
|
(14)
|
|
91
|
|
77
|
|
638
|
|
715
|
Conference Call Information
The Company will file its quarterly report on Form 10-Q this
morning. Additionally, as previously announced, Domino's
Pizza will hold a conference call today at 10 a.m. (Eastern) to review its third quarter
2014 financial results. The call can be accessed by dialing
(888) 400-9978 (U.S./Canada) or
(706) 634-4947 (International). Ask for the Domino's Pizza
conference call. The call will also be webcast at
www.dominosbiz.com. If you are unable to participate on the
call, a replay will be available for thirty days by dialing (855)
859-2056 (U.S./Canada) or (404)
537-3406 (International), Conference ID 34199327. The webcast
will also be archived for 30 days on www.dominosbiz.com.
Share Repurchases
During the third quarter of 2014, the Company repurchased and
retired 242,700 shares of its common stock under its open market
share repurchase program for approximately $17.4 million, or an average price of
$71.69 per share. As of October 7, 2014, the Company had authorization
for repurchases of approximately $132.7
million remaining under the program.
Dividends
On October 8, 2014, the Board of
Directors declared a 25 cent per
share quarterly dividend for shareholders of record as of
December 15, 2014 to be paid on
December 30, 2014.
Items Affecting
Comparability
The Company's reported financial results for the third quarter
and three fiscal quarters of 2014 are not comparable to the
reported financial results for the equivalent periods in 2013. The
table below presents certain items that affect comparability
between 2014 and 2013 financial results. The Company believes
that including such information is critical to the understanding of
its financial results for the third quarter and three fiscal
quarters of 2014 as compared to the same periods in 2013 (See the
Comments on Regulation G section on page four for additional
details).
In addition to the items noted in the table below, the Company
had lower weighted average diluted shares outstanding in 2014 that
resulted in an increase in diluted EPS of approximately
one cent in the third quarter of 2014
and three cents in the three fiscal
quarters of 2014.
|
Third
Quarter
|
|
Three Fiscal
Quarters
|
(in thousands,
except per share data)
|
Pre-tax
|
|
After-tax
|
|
Diluted EPS
Impact
|
|
Pre-tax
|
|
After-tax
|
|
Diluted EPS
Impact
|
2014 items
affecting comparability:
|
|
|
|
|
|
|
|
|
|
|
|
Gain on the sale of
Company-owned
stores (1)
|
$ -
|
|
$ -
|
|
$ -
|
|
$ 1,652
|
|
$ 1,033
|
|
$ 0.02
|
Deferred tax asset
valuation allowance
reversal (2)
|
-
|
|
-
|
|
-
|
|
-
|
|
329
|
|
0.01
|
Total of 2014
items*
|
$ -
|
|
$ -
|
|
$ -
|
|
$ 1,652
|
|
$ 1,362
|
|
$ 0.02
|
|
|
|
|
|
|
|
|
|
|
|
|
2013 items
affecting comparability:
|
|
|
|
|
|
|
|
|
|
|
|
Tax benefit for
domestic dough
production (3)
|
$ -
|
|
$ 1,358
|
|
$ 0.02
|
|
$ -
|
|
$ 1,358
|
|
$ 0.02
|
Total of 2013
items
|
$ -
|
|
$ 1,358
|
|
$ 0.02
|
|
$ -
|
|
$ 1,358
|
|
$ 0.02
|
|
|
|
* Diluted earnings
per share figures may not sum to the total due to the rounding of
each individual calculation.
|
|
|
|
|
(1)
|
Represents the gain
recognized on the sale of 14 Company-owned stores to a franchisee.
The gain is net of a reduction in goodwill of approximately $0.5
million.
|
|
(2)
|
As a result of the
capital gain recognized in connection with the sale of
Company-owned stores, the Company was able to utilize a portion of
a previously unrecognized benefit of a capital loss carry
forward.
|
|
(3)
|
Represents additional
tax benefit recorded for prior tax years in connection with the
Company revising its calculation for a deduction related to its
domestic dough production.
|
Liquidity
As of September 7, 2014, the
Company had approximately:
- $30.9 million of unrestricted
cash and cash equivalents;
- $1.52 billion in total debt;
and
- $59.8 million of available
borrowings under its $100.0 million
variable funding notes, net of letters of credit issued of
$40.2 million.
The Company's cash borrowing rate averaged 5.4% in the third
quarter of 2014 and 5.3% in the third quarter of 2013.
Additionally, the Company invested $31.0
million in capital expenditures during the three fiscal
quarters of 2014, compared to $20.3
million in the three fiscal quarters of 2013.
Free cash flow, as reconciled below to cash flows from
operations as determined under generally accepted accounting
principles (GAAP), was approximately $87.9
million in the three fiscal quarters of 2014.
(in
thousands)
|
Three Fiscal
Quarters
of
2014
|
Net cash provided by
operating activities
|
$ 118,885
|
Capital
expenditures
|
(30,983)
|
Free cash
flow
|
$ 87,902
|
Comments on Regulation G
In addition to the GAAP financial measures set forth in this
press release, the Company has included non-GAAP financial measures
within the meaning of Regulation G due to items affecting
comparability between fiscal quarters. The Company has also
included metrics such as global retail sales growth and same store
sales growth, which are commonly used statistical measures in the
quick-service restaurant industry that are important to
understanding Company performance.
The Company uses "Diluted EPS, as adjusted," which is
calculated as reported Diluted EPS adjusted for the items that
affect comparability to the prior year period discussed
above. The most directly comparable financial measure
calculated and presented in accordance with GAAP is Diluted
EPS. The Company believes that the Diluted EPS, as adjusted
measure is important and useful to investors and other interested
persons and that such persons benefit from having a consistent
basis for comparison between reporting periods. The Company
uses Diluted EPS, as adjusted to internally evaluate operating
performance, to evaluate itself against its peers and to determine
future performance targets and long-range planning.
Additionally, the Company believes that analysts covering the
Company's stock performance generally eliminate these items
affecting comparability when preparing their financial models, when
determining their published EPS estimates and when benchmarking the
Company against its competitors.
The Company uses "Global retail sales" to refer to total
worldwide retail sales at Company-owned and franchise stores. The
Company believes global retail sales information is useful in
analyzing revenues because franchisees pay royalties that are based
on a percentage of franchise retail sales. The Company reviews
comparable industry global retail sales information to assess
business trends and to track the growth of the Domino's
Pizza® brand. In addition, domestic supply chain
revenues are directly impacted by changes in domestic franchise
retail sales. Retail sales for franchise stores are reported to the
Company by its franchisees and are not included in Company
revenues.
The Company uses "Same store sales growth," which is
calculated by including only sales from stores that also had sales
in the comparable period of the prior year. International
same store sales growth is calculated similarly to domestic same
store sales growth. Changes in international same store sales
are reported excluding foreign currency impacts, which reflect
changes in international local currency sales.
The Company uses "Free cash flow," which is calculated as
cash flows from operations less capital expenditures, both as
reported under GAAP. The Company believes that the free cash
flow measure is important to investors and other interested
persons, and that such persons benefit from having a measure which
communicates how much cash flow is available for working capital
needs or to be used for repurchasing debt, making acquisitions,
repurchasing common stock, paying dividends or other similar uses
of cash.
About Domino's Pizza®
Founded in 1960, Domino's Pizza is the recognized world leader
in pizza delivery, with a significant business in carryout pizza.
It ranks among the world's top public restaurant brands with its
global enterprise of more than 11,250 stores in over 75
international markets. Domino's had global retail sales of over
$8.0 billion in 2013, comprised of
nearly $3.8 billion in the U.S. and
over $4.2 billion internationally. In
the third quarter of 2014, Domino's had global retail sales of over
$2.0 billion, comprised of
$0.9 billion in the U.S. and
$1.1 billion internationally. Its
system is made up of franchise owners who accounted for nearly 97%
of the Domino's Pizza stores as of the third quarter of 2014. The
emphasis on technology innovation helped Domino's generate
approximately 40% of U.S. sales from its digital channels in 2013,
as well as reach an estimated $3
billion annually in global digital sales. Domino's recently
launched its ordering app for iPad®, adding to an existing ordering
app lineup that covers nearly 95% of the smartphone market. In
June 2014, Domino's debuted voice
ordering for its iPhone® and Android™ apps, a
true technology first within both traditional and e-commerce
retail.
Order - www.dominos.com
Mobile – http://mobile.dominos.com
Info - www.dominosbiz.com
Twitter - http://twitter.com/dominos
Facebook - http://www.facebook.com/dominos
YouTube - http://www.youtube.com/dominos
Please visit our Investor Relations website at
www.dominosbiz.com to view a schedule of upcoming earnings
releases, significant announcements and conference webcasts.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995:
This press release contains forward-looking statements. You can
identify forward-looking statements because they contain words such
as "believes," "expects," "may," "will," "should," "seeks,"
"approximately," "intends," "plans," "estimates," or "anticipates"
or similar expressions that concern our strategy, plans or
intentions. These forward-looking statements relating to our
anticipated profitability, estimates in same store sales growth,
the growth of our international business, ability to service our
indebtedness, our future cash flows, our operating performance,
trends in our business and other descriptions of future events
reflect the Company's expectations based upon currently available
information and data. However, actual results are subject to
future risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. The risks and uncertainties that
could cause actual results to differ materially include: the level
of and our ability to refinance our long-term and other
indebtedness; uncertainties relating to litigation; consumer
preferences, spending patterns and demographic trends; the
effectiveness of our advertising, operations and promotional
initiatives; our reputation and the strength of our brand in the
markets in which we compete; our ability to retain key personnel;
new product and concept developments by us, and other food-industry
competitors; the ongoing level of profitability of our franchisees;
our ability and that of our franchisees to open new restaurants and
keep existing restaurants in operation; changes in food prices,
particularly cheese, labor, utilities, insurance, employee benefits
and other operating costs; the impact that widespread illness or
general health concerns may have on our business and the economy of
the countries where we operate; severe weather conditions and
natural disasters; cyber-attacks or other catastrophic events;
changes in our effective tax rate; changes in foreign currency
exchange rates; changes in government legislation and regulations;
adequacy of our insurance coverage; costs related to future
financings; our ability and that of our franchisees to successfully
operate in the current credit environment; changes in the level of
consumer spending given the general economic conditions including
interest rates, energy prices and weak consumer confidence;
availability of borrowings under our variable funding notes and our
letters of credit; and changes in accounting policies. Important
factors that could cause actual results to differ materially from
our expectations are more fully described in our other filings with
the Securities and Exchange Commission, including under the section
headed "Risk Factors" in our annual report on Form 10-K.
These forward-looking statements speak only as of the date of this
press release, and you should not rely on such statements as
representing the views of the Company as of any subsequent
date. Except as required by applicable securities laws, we do
not undertake to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
TABLES TO FOLLOW
Domino's Pizza,
Inc. and Subsidiaries
Condensed
Consolidated Statements of Income
(Unaudited)
|
|
|
Fiscal Quarter
Ended
|
|
September
7,
2014
|
% of
Total
Revenues
|
|
September
8,
2013
|
% of
Total
Revenues
|
(In thousands, except
per share data)
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
Domestic
Company-owned stores
|
$ 77,644
|
|
|
$ 75,923
|
|
Domestic
franchise
|
51,858
|
|
|
47,846
|
|
Domestic
supply chain
|
254,820
|
|
|
226,315
|
|
International
|
62,246
|
|
|
53,966
|
|
Total
revenues
|
446,568
|
100.0%
|
|
404,050
|
100.0%
|
|
|
|
|
|
|
Cost of
sales:
|
|
|
|
|
|
Domestic
Company-owned stores
|
59,754
|
|
|
58,662
|
|
Domestic
supply chain
|
228,422
|
|
|
203,004
|
|
International
|
24,878
|
|
|
21,750
|
|
Total cost of
sales
|
313,054
|
70.1%
|
|
283,416
|
70.1%
|
Operating
margin
|
133,514
|
29.9%
|
|
120,634
|
29.9%
|
|
|
|
|
|
|
General and
administrative
|
56,573
|
12.7%
|
|
53,858
|
13.3%
|
Income from
operations
|
76,941
|
17.2%
|
|
66,776
|
16.6%
|
|
|
|
|
|
|
Interest expense,
net
|
(19,952)
|
(4.4)%
|
|
(20,323)
|
(5.1)%
|
Income before
provision for
income
taxes
|
56,989
|
12.8%
|
|
46,453
|
11.5%
|
|
|
|
|
|
|
Provision for income
taxes
|
21,371
|
4.8%
|
|
15,821
|
3.9%
|
Net income
|
$ 35,618
|
8.0%
|
|
$ 30,632
|
7.6%
|
|
|
|
|
|
|
Earnings per
share:
|
|
|
|
|
|
Common
stock – diluted
|
$ 0.63
|
|
|
$ 0.53
|
|
|
|
|
|
|
|
Dividends declared
per share
|
$ 0.25
|
|
|
$ 0.20
|
|
Domino's Pizza,
Inc. and Subsidiaries
Condensed
Consolidated Statements of Income
(Unaudited)
|
|
|
Three Fiscal
Quarters Ended
|
|
September
7,
2014
|
% of
Total
Revenues
|
|
September
8,
2013
|
% of
Total
Revenues
|
(In thousands, except
per share data)
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
Domestic
Company-owned stores
|
$ 238,915
|
|
|
$ 235,526
|
|
Domestic
franchise
|
157,317
|
|
|
147,330
|
|
Domestic
supply chain
|
769,899
|
|
|
691,154
|
|
International
|
184,752
|
|
|
161,666
|
|
Total
revenues
|
1,350,883
|
100.0%
|
|
1,235,676
|
100.0%
|
|
|
|
|
|
|
Cost of
sales:
|
|
|
|
|
|
Domestic
Company-owned stores
|
183,262
|
|
|
179,466
|
|
Domestic
supply chain
|
689,487
|
|
|
615,736
|
|
International
|
72,933
|
|
|
64,047
|
|
Total cost of
sales
|
945,682
|
70.0%
|
|
859,249
|
69.5%
|
Operating
margin
|
405,201
|
30.0%
|
|
376,427
|
30.5%
|
|
|
|
|
|
|
General and
administrative
|
162,722
|
12.0%
|
|
160,286
|
13.0%
|
Income from
operations
|
242,479
|
18.0%
|
|
216,141
|
17.5%
|
|
|
|
|
|
|
Interest expense,
net
|
(60,071)
|
(4.5)%
|
|
(61,621)
|
(5.0)%
|
Income before
provision for
income
taxes
|
182,408
|
13.5%
|
|
154,520
|
12.5%
|
|
|
|
|
|
|
Provision for income
taxes
|
67,854
|
5.0%
|
|
56,198
|
4.5%
|
Net income
|
$ 114,554
|
8.5%
|
|
$ 98,322
|
8.0%
|
|
|
|
|
|
|
Earnings per
share:
|
|
|
|
|
|
Common
stock – diluted
|
$
2.01
|
|
|
$ 1.70
|
|
|
|
|
|
|
|
Dividends declared
per share
|
$
0.75
|
|
|
$ 0.60
|
|
Domino's Pizza,
Inc. and Subsidiaries
Condensed
Consolidated Balance Sheets
(Unaudited)
|
|
|
September 7,
2014
|
|
December 29,
2013
|
(In
thousands)
|
|
|
|
|
|
Assets
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
Cash and cash
equivalents
|
$
|
30,936
|
|
$
|
14,383
|
Restricted cash and
cash equivalents
|
|
73,592
|
|
|
125,453
|
Accounts
receivable
|
|
103,540
|
|
|
105,779
|
Inventories
|
|
35,213
|
|
|
30,321
|
Advertising fund
assets, restricted
|
|
60,111
|
|
|
44,695
|
Other assets
|
|
29,932
|
|
|
30,909
|
Total current
assets
|
|
333,324
|
|
|
351,540
|
|
|
|
|
|
|
Property, plant and
equipment, net
|
|
100,491
|
|
|
97,584
|
|
|
|
|
|
|
Other
assets
|
|
77,068
|
|
|
76,131
|
|
|
|
|
|
|
Total
assets
|
$
|
510,883
|
|
$
|
525,255
|
|
|
|
|
|
|
Liabilities and
stockholders' deficit
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Current portion of
long-term debt
|
$
|
549
|
|
$
|
24,144
|
Accounts
payable
|
|
73,942
|
|
|
83,408
|
Dividends
payable
|
|
14,111
|
|
|
11,849
|
Advertising fund
liabilities
|
|
60,111
|
|
|
44,695
|
Other accrued
liabilities
|
|
71,673
|
|
|
90,515
|
Total current
liabilities
|
|
220,386
|
|
|
254,611
|
|
|
|
|
|
|
Long-term
liabilities:
|
|
|
|
|
|
Long-term debt, less
current portion
|
|
1,523,740
|
|
|
1,512,299
|
Other accrued
liabilities
|
|
48,499
|
|
|
48,547
|
Total long-term
liabilities
|
|
1,572,239
|
|
|
1,560,846
|
|
|
|
|
|
|
Total stockholders'
deficit
|
|
(1,281,742)
|
|
|
(1,290,202)
|
|
|
|
|
|
|
Total liabilities and
stockholders' deficit
|
$
|
510,883
|
|
$
|
525,255
|
Domino's Pizza,
Inc. and Subsidiaries
Condensed
Consolidated Statements of Cash Flows
(Unaudited)
|
|
|
Three Fiscal
Quarters Ended
|
|
|
|
|
|
September
7,
2014
|
|
September
8,
2013
|
(In
thousands)
|
|
|
|
Cash flows from
operating activities:
|
|
|
|
Net
income
|
$ 114,554
|
|
$ 98,322
|
Adjustments to
reconcile net income to net
cash
flows provided by operating activities:
|
|
|
|
Depreciation and
amortization
|
20,024
|
|
17,480
|
Gains on sale/disposal
of assets
|
(1,381)
|
|
(71)
|
Amortization of
deferred financing costs
|
4,046
|
|
4,264
|
Provision for deferred
income taxes
|
1,008
|
|
6,031
|
Non-cash compensation
expense
|
11,897
|
|
14,866
|
Tax impact from
equity-based compensation
|
(10,899)
|
|
(12,025)
|
Other
|
(888)
|
|
(1,283)
|
Changes in operating
assets and liabilities
|
(19,476)
|
|
(23,009)
|
Net cash provided by
operating activities
|
118,885
|
|
104,575
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
Capital
expenditures
|
(30,983)
|
|
(20,286)
|
Proceeds from
sale of assets
|
5,802
|
|
3,184
|
Changes in
restricted cash
|
51,861
|
|
(3,273)
|
Other
|
(1,365)
|
|
1,539
|
Net cash provided by
(used in) investing activities
|
25,315
|
|
(18,836)
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
Repayments of
long-term debt and capital lease obligations
|
(12,152)
|
|
(18,268)
|
Proceeds from
exercise of stock options
|
3,094
|
|
5,804
|
Tax impact
from equity-based compensation
|
10,899
|
|
12,025
|
Purchases of
common stock
|
(82,407)
|
|
(76,892)
|
Tax payments
for restricted stock upon vesting
|
(7,889)
|
|
(7,888)
|
Payments of
common stock dividends and equivalents
|
(39,208)
|
|
(23,223)
|
Net cash used in
financing activities
|
(127,663)
|
|
(108,442)
|
|
|
|
|
Effect of exchange
rate changes on cash and cash equivalents
|
16
|
|
(31)
|
|
|
|
|
Change in cash and
cash equivalents
|
16,553
|
|
(22,734)
|
|
|
|
|
Cash and cash
equivalents, at beginning of period
|
14,383
|
|
54,813
|
|
|
|
|
Cash and cash
equivalents, at end of period
|
$ 30,936
|
|
$ 32,079
|
Logo -
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SOURCE Domino's Pizza, Inc.