August 18, 2001 |
IHOP Inc., owner of the International House of Pancakes restaurant chain, said it hired Salomon Smith Barney Inc. to explore options and consider a major shareholder's suggestion to securitize some receivables. Southeastern Asset Management Inc., IHOP's largest shareholder, said in a Securities and Exchange Commission filing in May that the company should sell or refinance $287 million of loans made to franchisees.
February 27, 2004 |
IHOP Corp., the Glendale-based chain of pancake restaurants, Thursday attributed a 27% drop in fourth-quarter profit to the franchising of fewer company-developed outlets. Sales at restaurants open at least a year jumped 6% in the period ended Dec. 31, in part because of a stuffed crepes promotion, the company reported. IHOP reported profit of $8.8 million, or 41 cents a share, compared with $11.95 million, or 56 cents, in the year-earlier period.
August 1, 2001 |
IHOP Corp. posted second-quarter earnings Tuesday that handily beat analysts' forecasts, but the parent of the International House of Pancakes chain also said it would consider a financial restructuring urged by its biggest stockholder. The Glendale-based concern said profit in the three months ended June 30 climbed 23% to $10.2 million, or 49 cents per diluted share, from $8.3 million, or 41 cents, a year earlier.
June 21, 2002 |
IHOP Corp. lowered its 2002 earnings estimate because of higher-than-expected costs related to consumer research programs, consulting fees and menu development. The Glendale-based operator of the International House of Pancakes chain said it now expects to earn between $1.99 and $2.12 a share, versus earlier guidance of between $2.10 and $2.22. "We're not broken," Chief Executive Julia A. Stewart said. "We're taking a proactive approach in our efforts to take [the company] to the next level."
February 22, 2007 |
Restaurant chain operator IHOP Corp. reported higher fourth-quarter earnings, helped by franchise restaurant openings. The company forecast 2007 earnings of $2.50 to $2.60 a share, based on expected same-store sales growth of 2% to 4% and the addition of as many as 66 restaurants. Fourth-quarter net income was $10.3 million, or 57 cents a share, compared with $10 million, or 53 cents, a year earlier, the company said.
November 8, 1994
IHOP Corp., the Glendale developer and operator of pancake restaurants, said it had record earnings of $3.78 million for the third quarter that ended Sept. 30, up 9% from $3.46 million last year. Sales for the quarter were $37.3 million, down 2% from $38.2 million the previous year. For the nine months, the company said earnings were $9.73 million, up 55% from $6.2 million in the first nine months last year. Revenues for same period were $107.2 million, up 3% from $103.9 million.
October 24, 2003 |
Increased lunch and dinner sales helped IHOP Corp. post a 12% gain in third-quarter profit, the Glendale-based restaurant chain said Thursday. The parent of the International House of Pancakes restaurants -- best known for their bright blue roofs and breakfast offerings -- posted net income of $11 million, or 51 cents a share, topping Wall Street's estimate by 5 cents a share. A year ago, IHOP earned $9.8 million, or 46 cents a share. The latest quarterly earnings were reduced by a $1.
August 25, 2007 |
IHOP Corp. received government approval for its planned $1.9-billion purchase of Applebee's International Inc. The Federal Trade Commission said it gave clearance for the acquisition to take place.
May 21, 2008 |
IHOP Corp. shares rose 2% after the restaurant operator said its Applebee's business unit signed a sale-lease-back deal that was expected to generate gross proceeds of about $347 million. Glendale-based IHOP said the deal with Fortress Investment Group's Drawbridge funds involved 187 company-owned real estate parcels. It is expected to close by June 16. IHOP shares rose 98 cents to $51.28.
November 8, 2007 |
IHOP Corp., the pancake chain that agreed to buy Applebee's International Inc. in July, said eight executives from the acquired firm would leave when the transaction was complete. The departures include Applebee's Chief Executive Dave Goebel and Chief Financial Officer Steve Lumpkin, Glendale-based IHOP said. IHOP agreed to buy Overland Park, Kan.-based Applebee's in July for $2.1 billion, and plans to convert most of the 500 company-owned restaurants to franchises to lower costs.