SPARTANBURG, S.C., Jan 09, 2012 (BUSINESS WIRE) --Denny's Corporation (NASDAQ: DENN), one of America's largest
full-service family restaurant chains, today announced that the company
will be presenting at the 14
th Annual ICR XChange Conference
at the Fontainebleau Miami Beach hotel on Wednesday, January 11, 2012.
Investors and interested parties may access a copy of the presentation
in the Investor Relations section of Denny's website at
ir.dennys.com.
The Company is providing preliminary results for the fourth quarter and
full year ended December 28, 2011 on same-store sales and unit openings.
In addition to achieving its third consecutive quarter of positive
franchise and company same-store sales, Denny's company-owned
restaurants achieved positive same-store guest counts during the fourth
quarter and full year. In the fourth quarter, Denny's franchisees opened
14 new units in addition to closing six restaurants and purchasing 17
company restaurants. For the full year, Denny's opened 62 new units,
including 23 Flying J conversion units, five university units, and three
international units. Denny's closed a total of 35 units during 2011 for
net system unit growth of 27 units, which is the third consecutive year
of positive net system growth for the brand.
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Preliminary Results
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Quarter
Ended
12/28/11
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Year
Ended
12/28/11
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Same-Store Sales
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Franchised Restaurants
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1.7%
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0.6%
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Company Restaurants
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1.0%
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0.8%
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System-wide Restaurants
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1.5%
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0.7%
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|
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Units Opened & Relocated
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Franchised & Licensed
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14
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54
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Company
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0
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8
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Total
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14
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62
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Denny's is reiterating its full-year 2011 guidance for Adjusted EBITDA*
between $80 million and $83 million, and Adjusted Income Before Taxes*
between $36 million and $39 million. Denny's expects to release
financial and operating results for its fourth quarter and year ended
December 28, 2011 after the market closes on Wednesday, February 15,
2012.
* Adjusted Income Before Taxes and Adjusted EBITDA are non-GAAP metrics
used by Denny's for earnings guidance. Please refer to the historical
reconciliations of net income to Adjusted Income Before Taxes and
Adjusted EBITDA included in the tables in Denny's Third Quarter 2011
Earnings Release on November 1, 2011.
About Denny's Corporation
Denny's is one of America's largest full-service family restaurant
chains, currently operating more than 1,680 franchised, licensed, and
company-owned restaurants across the United States, Canada, Costa Rica,
Mexico, Honduras, Guam, Puerto Rico and New Zealand. For further
information on Denny's, including news releases, links to SEC filings
and other financial information, please visit the Denny's investor
relations website.
The Company urges caution in considering its current trends and any
outlook on earnings disclosed in this press release. In addition,
certain matters discussed in this release may constitute forward-looking
statements. These forward-looking statements, which reflect our
best judgment based on factors currently known, are intended to speak
only as of the date such statements are made and involve risks,
uncertainties, and other factors that may cause the actual performance
of Denny's Corporation, its subsidiaries and underlying restaurants to
be materially different from the performance indicated or implied by
such statements. Words such as "expects", "anticipates",
"believes", "intends", "plans", "hopes", and variations of such words
and similar expressions are intended to identify such forward-looking
statements. Except as may be required by law, the Company
expressly disclaims any obligation to update these forward-looking
statements to reflect events or circumstances after the date of this
release or to reflect the occurrence of unanticipated events. Factors
that could cause actual performance to differ materially from the
performance indicated by these forward-looking statements include, among
others: the competitive pressures from within the restaurant
industry; the level of success of the Company's strategic and operating
initiatives, advertising and promotional efforts; adverse publicity;
changes in business strategy or development plans; terms and
availability of capital; regional weather conditions; overall changes in
the general economy, particularly at the retail level; political
environment (including acts of war and terrorism); and other factors
from time to time set forth in the Company's SEC reports and other
filings, including but not limited to the discussion in Management's
Discussion and Analysis and the risks identified in Item 1A. Risk
Factors contained in the Company's Annual Report on Form 10-K for the
year ended December 29, 2010 (and in the Company's subsequent quarterly
reports on Form 10-Q).
SOURCE: Denny's Corporation
Denny's Corporation
Investor:
Whit Kincaid
877-784-7167
Media:
Liz
Brady, ICR
646-277-1226