Pizza Hut 2008 Annual Report Download - page 227

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105
Note 22 – Selected Quarterly Financial Data (Unaudited)
2008
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
Revenues:
Com
p
an
y
sales $ 2,094 $ 2,323 $ 2,482 $ 2,944 $ 9,843
Franchise and license fees 314 330 353 439 1,436
Total revenues 2
,
408 2
,
653 2
,
835 3
,
383 11
,
279
Restaurant
p
rofi
t
(a) 308 311 358 401 1,378
O
p
eratin
g
Profi
t
(b) 424 315 407 360 1,506
N
et income 254 224 282 204 964
Basic earnin
g
s
p
er common share 0.52 0.47 0.60 0.44 2.03
Diluted earnin
g
s
p
er common share 0.50 0.45 0.58 0.43 1.96
Dividends declared
p
er common share 0.15 0.19 — 0.38 0.72
2007
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
Revenues:
Com
p
an
y
sales $ 1,942 $ 2,073 $ 2,243 $ 2,842 $ 9,100
Franchise and license fees 281 294 321 420 1,316
Total revenues 2
,
223 2
,
367 2
,
564 3
,
262 10
,
416
Restaurant
p
rofi
t
(a) 288 310 353 376 1,327
O
p
eratin
g
Profi
t
316 310 401 330 1,357
N
et income 194 214 270 231 909
Basic earnin
g
s
p
er common share 0.36 0.41 0.52 0.45 1.74
Diluted earnin
g
s
p
er common share 0.35 0.39 0.50 0.44 1.68
Dividends declared
p
er common share
—
0.15
—
0.30 0.45
(a) Restaurant profit is defined as Company sales less expenses incurred directly by Company restaurants in
generating Company sales. These expenses are presented as subtotals on our Consolidated Statements of
Income.
(b) Operating Profit includes a gain of $68 million, loss of $3 million and loss of $26 million in the first, second and
fourth quarters of 2008, respectively, related to the gain on the sale of our interest in our Japan unconsolidated
affiliate and charges related to the U.S. business transformation measures. See Note 5.
Form 10-K