DPZ » Topics » Pro Forma EPS

This excerpt taken from the DPZ 8-K filed Feb 21, 2006.

Pro Forma EPS

 

Pro forma diluted earnings per share for fiscal 2004 were $1.12. Diluted earnings per share data, as reported, for the 2005 and 2004 fiscal years are disclosed in the accompanying condensed consolidated statements of income.

 

Management believes it is helpful to investors to be presented with a pro forma EPS number for 2004 which is based on its capital structure and anticipated ongoing financing and related costs following the completion of the Company’s initial public offering. As a result, the Company is providing pro forma EPS amounts for full year 2004, assuming that the following transactions occurred at the beginning of 2004:

 

  (i) the reclassification of previously outstanding Class A Common Stock and Class L Common Stock into Common Stock; and

 

  (ii) the issuance of the 9,375,000 shares issued in the IPO and the redemption of $109.1 million of senior subordinated notes, resulting in a reduction of interest expense of approximately $2.1 million ($1.3 million after-tax) in each of the first two fiscal quarters of 2004 and $1.6 million ($1.0 million after-tax) in the third fiscal quarter of 2004.

 

Further, for pro forma purposes, the Company has eliminated certain non-recurring costs recognized in the third quarter of 2004 related to the IPO including:

 

  (i) the $10.0 million payment made to an affiliate of our former majority shareholder to terminate the management agreement between that affiliate and the Company; and

 

  (ii) the $9.0 million premium on the redemption of the senior subordinated notes and the $3.7 million write-off of related debt discount and deferred financing costs.

 

This excerpt taken from the DPZ 8-K filed Aug 3, 2005.

Pro Forma EPS

 

Diluted earnings per share for the second quarter and year-to-date periods of 2005 were $0.35 and $0.70, respectively. Pro forma diluted earnings per share for the second quarter and year-to-date periods of 2004 were $0.24 and $0.52, respectively. Diluted EPS, as reported for the second quarter and first two quarters of 2004 is disclosed in the accompanying condensed consolidated statements of income.

 

Management believes it is helpful to investors to be presented with a pro forma EPS number for the second quarter and year-to-date periods of 2004, which is based on the Company’s capital structure following the completion of its initial public offering in the third quarter of 2004. As a result, the Company is providing pro forma EPS amounts for the second quarter and first two quarters of 2004, assuming that the following transactions occurred at the beginning of 2004:

 

  (i) the reclassification of previously outstanding Class A Common Stock and Class L Common Stock into Common Stock; and

 

  (ii) the issuance of the 9,375,000 shares in the IPO and the redemption of $109.1 million of senior subordinated notes, resulting in a reduction of interest expense of approximately $2.1 million ($1.3 million after-tax) in each of the first two quarters of 2004.

 

The following table reconciles net income, as reported to pro forma net income for the second quarter and first two quarters of 2004, respectively, and also presents the pro forma diluted weighted average shares of common stock outstanding used to determine pro forma diluted earnings per share. The denominator in the pro forma diluted EPS calculations below assumes that the capital structure in place after the IPO was in place for the first two quarters of 2004.

This excerpt taken from the DPZ 8-K filed May 10, 2005.

Pro Forma EPS

 

Diluted earnings per share for the first quarter of 2005 was $0.35. Pro forma diluted earnings per share for the first quarter of 2004 was $0.28. Diluted EPS, as reported for the first quarter of 2004 is disclosed in the accompanying condensed consolidated statement of income.

 

Management believes it is helpful to investors to be presented with a pro forma EPS number for the first quarter of 2004, which is based on the Company’s capital structure following the completion of its initial public offering in the third quarter of 2004. As a result, the Company is providing pro forma EPS amounts for the first quarter of 2004, assuming that the following transactions occurred at the beginning of 2004:

 

  (i) the reclassification of previously outstanding Class A Common Stock and Class L Common Stock into Common Stock; and

 

  (ii) the issuance of the 9,375,000 shares in the IPO and the redemption of $109.1 million of senior subordinated notes, resulting in a reduction of interest expense of approximately $2.1 million ($1.3 million after-tax) in the first quarter of 2004.

 

The following table reconciles net income, as reported to pro forma net income for the first quarter of 2004, and also presents the pro forma diluted weighted average shares of common stock outstanding used to determine pro forma diluted earnings per share. The denominator in the pro forma diluted EPS calculations below assumes that the capital structure in place after the IPO was in place for the first quarter of 2004.

 

    

First Quarter

of 2004


 
(In thousands, except per share data)       

Net income, as reported

   $ 18,408  

Adjustments:

        

Reduction in interest expense from debt retirement

     2,100  

Tax impact

     (793 )
    


Total Adjustments (net of tax)

     1,307  
    


Pro forma net income

   $ 19,715  
    


Weighted average shares outstanding – diluted

     71,287  
    


Pro forma earnings per share – diluted

   $ 0.28  
    


 

This excerpt taken from the DPZ 8-K filed Feb 22, 2005.

Pro Forma EPS

 

Pro forma diluted earnings per share for fiscal 2004 were $1.12. Diluted earnings per share data, as reported, for the 2004 and 2003 fiscal years are disclosed in the accompanying condensed consolidated statements of income.

 

Management believes it is helpful to investors to be presented with a pro forma EPS number which is based on its new capital structure and anticipated ongoing financing and related costs following the completion of the Company’s initial public offering. As a result, the Company is providing pro forma EPS amounts for full year 2004, assuming that the following transactions occurred at the beginning of 2004:

 

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