SPARTANBURG, S.C., Aug 04, 2009 (BUSINESS WIRE) -- Denny's Corporation (NASDAQ: DENN) today reported results for the second quarter ended July 1, 2009.
Second Quarter Highlights
Adjusted income before taxes grew $1.6 million to $7.3 million
Net income increased $6.2 million due primarily to $6.4 million less in restructuring charges
Opened 10 new franchised restaurants and sold 22 company restaurants under Denny's Franchise Growth Initiative (FGI) - increased franchised restaurants to 83% of Denny's system
Voluntarily paid down $9.4 million in debt
Same-store sales decreased 2.7% at company units and decreased 4.7% at franchised units
Company restaurant operating margin improved by 1.8 percentage points to 14.3% of sales
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