Papa John's gives 2010 profit outlook

AP News
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Posted: Dec 14, 2009 5:42 PM

Pizza seller Papa John's International Inc. said Monday it expects to earn $1.70 to $1.90 per share for its fiscal 2010, while Wall Street analysts on average forecast profit of $1.74 per share.

Papa John's, based in Louisville, Ky., said its projection took into account some potential volatility in cheese prices and assumes U.S. sales results to range from a 1 percent drop to 1 percent growth. It excludes the effect of the consolidation of the franchisee-owned cheese-buying company BIBP Commodities Inc.

The company also reaffirmed a forecast for 2009 earnings in the range of $1.42 to $1.46. Analysts polled by Thomson Reuters expect $1.47.

Papa John's also said its 2010 annual shareholder meeting is set April 28 in Louisville.

Papa John's shares rose 25 cents in after-hours trading Monday after closing at $21.65, down 9 cents from Friday's close.