Dunkin' Brands reports 1Q revenues of $1.8b
Dunkin' Brands Inc., the Canton-based parent company of Dunkin' Donuts and Baskin-Robbins, reported global system-wide sales for the first quarter of $1.8 billion, up 5.4 percent for the same period a year ago.
At US stores open at least a year --- a measure that Wall Street watches closely --- sales increased 2.7 percent, Dunkin' Brands said in a press release.
"Operating income was $44.1 million compared to $33.0 million for the first quarter of 2010, representing a more than 33 percent year-over-year increase," the company said in a press release.
The release added, "As a result of a non-recurring pre-tax charge of $11 million related to the company's debt re-pricing (which is expected to result in an approximately $26 million reduction in cash interest expense annually), net loss was $1.7 million compared to net income of $5.9 million in the first quarter of 2010."
Six years ago, a group of private equity firms, including Boston's Bain Capital Partners and Thomas H. Lee Partners, purchased Dunkin' for $2.4 billion. In recent weeks, reports have surfaced that Dunkin' Brands is in preliminary talks about taking the company public later this year. To read a Globe story about that, please click here.