NPC International Inc.‘s earnings fell 84% in the first quarter compared with the same period last year, but revenue rose 6.3%.
Earnings for the quarter that ended March 27 were $2.4 million, compared with $15.4 million last year, the company said in a release late Friday. NPC attributed the drop to expenses related to the May 3, 2006, sale of the company and lower restaurant operating margins.
Revenue for the Pizza Hut franchisee was $173.1 million, up from $162.9 million last year. The rise resulted mainly from the purchase of 39 stores in October and 59 stores in March, the release said. Comparable sales rose 0.7%.
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