GLENDALE Calif. IHOP Corp. filed with securities regulators on Thursday financial statements that include costs or gains from its late-November acquisition of Applebee’s, and recorded $1.7 billion in revenue and a $5.1 million loss from continuing operations for the 12 months ended Sept. 30.
Together, the combined companies of IHOP and Applebee’s recorded for the year ended Dec. 31, 2006, which IHOP used as a comparison on a pro forma basis, revenue of $1.7 billion and income from continuing operations of $3 million. The swing from a year-ago profit to a current-year loss reflects higher interest and financing expenses in the current year from IHOP’s issuance of more than $2 billion in notes used to fund the Applebee’s purchase. A year-ago tax benefit also was reflected in the results.
IHOP currently franchises or operates the more than 1,300-unit IHOP chain and the more than 1,900-unit Applebee’s chain.