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 ANN ARBOR, Mich. (AP) - Domino's Pizza Inc., the world's No. 2 pizza chain after Pizza Hut, on Tuesday reported higher fourth-quarter profit, aided by an asset sale in Mexico. The company also increased its dividend by 20 percent to 12 cents, and forecast long-term earnings growth between 11 percent and 13 percent.
For the quarter ended Jan. 1, Domino's reported net income of $40.2 million, or 59 cents per share, versus a prior-year profit of $27 million, or 38 cents per share. Excluding stock option expense, charges related to Netherlands operations and other items, Domino's reported adjusted earnings of 45 cents per share. Revenue fell 4 percent to $457.4 million from $478.5 million a year ago.
The results beat Wall Street's forecast for a profit of 42 cents per share, the average estimate of four analysts surveyed by Thomson Financial.
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