IHOP Doubles Profit With 8% Increase in Revenue
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IHOP Corp., the parent of the International House of Pancakes restaurant chain, said its first-quarter earnings more than doubled from a year earlier on an 8% gain in revenue.
In the quarter ended March 31, IHOP’s net income jumped to $972,000 from $428,000 a year earlier, and its revenue rose to $24.3 million from $22.6 million.
Burbank-based IHOP said it was “pleased” with the results “during these difficult economic times,” and said its new television commercials “are encouraging good traffic flow” through the chain’s 504 outlets nationwide.
IHOP said its systemwide sales--including those operated by franchisees--totaled $111 million in the latest quarter, up 12% from a year earlier.
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