Papa John's sales up in 1st-Q, but profit down on charge

LOUISVILLE Ky. Papa John’s International Inc. reported a 34-percent plunge in first quarter net income on a $5.2 million loss related to its franchisee-owned cheese purchasing company.

For the first quarter ended March 30, Papa John's posted net income of $8.6 million, or 30 cents per share, compared with $13.1 million, or 43 cents a share in the year-ago period. Excluding the impact of the cheese purchasing arm, per-share earnings would have been 48 cents,

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