US take-out and delivery pizza restaurant chain operator Papa John’s International has reported a 6.5% increase in revenues to $325.5m for the third quarter ended 23 September 2012, as against $305.7m for the same period in the previous year.
The firm has reported a net income of $13.2m in the third quarter, compared to $11.1m for the same period in 2011.
Papa John’s founder, chairman, and chief executive officer, John Schnatter said during the third quarter, the firm achieved a substantial milestone with the opening of its 4,000 restaurant.
"Consumers and franchisees continue to put a premium on quality and that’s where Papa John’s wins. This translates into both strong global development and solid comparable sales results," Schnatter added.
According to the company, domestic company-owned restaurant sales for the quarter increased $14.5m, or 11.3%.
The firm growth was acheived as the comparable sales registered a 5% growth and the net acquisition of 50 restaurants in the Denver and Minneapolis markets from a franchisee in the second quarter of 2012.
Papa John’s said the North American franchise royalty revenue increased approximately by $800,000, or 4.5%, which was primarily accounted from the rise in comparable sales of 1.7% in net franchise restaurants over the prior year.
Founded in 1984, Papa John’s owns or franchises more than 3,500 outlets in all 50 states and 29 countries.