IHOP posts net income of $10.3M

GLENDALE Calif. IHOP Corp., parent company to the mostly franchised 1,302-unit IHOP chain, said fourth-quarter net income increased 3.7 percent from a year earlier to $10.3 million, or 57 cents per share, on revenues that remained nearly flat at $87.9 million.

As IHOP continues its transition away from financing franchisees, the company's financing and rental expenses were reduced from a year earlier, which helped boost its bottom line, yet, financing revenues

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