IHOP takes a hit in 4th-Q on Applebee's purchase

GLENDALE Calif. IHOP Corp.’s purchase of Applebee’s last November led to a loss for the pancake specialist’s latest quarter and year, but company officials on Wednesday predicted more positive results for 2008 as the newly acquired brand moves to an almost all-franchised model and same-store sales turn positive.

IHOP reported a net loss of $16 million, or 94 cents per share, for the fourth quarter ended Dec. 31, compared with a profit of $10.3 million, or 57 c