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Pizza revamp drives Domino’s results

Domino’s Pizza Inc. said consumer response to the brand’s reformulated pizza and its new, transparency-theme marketing campaign in 2010 drove one of the company’s best years.

For the Ann Arbor-based company’s fourth quarter ended Jan. 2, net income rose 2.5 percent to $24.2 million, from $23.6 million in the same quarter a year earlier. Latest-quarter per-share earnings fell to 39 cents from 41 cents last year, as Domino’s held a higher weighted average number of shares outstanding in 2010 as it did in 2009.

Fourth-quarter revenue increased 3.7 percent to $480 million.

Same-store sales rose 6.3 percent in the United States, reflecting gains of 5.4 percent at domestic corporate units and 6.4 percent at franchised restaurants. Same-store sales sales rose 9 percent in Domino’s international system.

“In 2010, we demonstrated that we’re a new Domino’s,” said president and chief executive Patrick Doyle. “In the United States our decision to improve our pizza, and the success that resulted from it, allowed us to build a new base of customers and a stronger base of business from which to grow.”

For the full year, Domino’s net income jumped 10.3 percent to $87.9 million, or $1.45 per share, compared with $79.7 million, or $1.38 per share, a year earlier. Revenue increased 11.9 percent to $1.57 billion in 2010.

Same-store sales increased 9.9 percent in the United States, reflecting increases of 9.7 percent at corporate stores and 10 percent at franchise locations. International comparable sales rose 6.9 percent for the year.

Ann Arbor, Mich.-based Domino’s owns and operates 454 restaurants in the United States and franchises another 8,897 units worldwide.

Contact Mark Brandau at [email protected].

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