Dine Equity Inc., Stamps.com and TetraTech Inc. were among firms reporting earnings.
DINE EQUITY INC.
Glendale’s DineEquity Inc, which operates the Applebee’s and IHOP restaurant chains, posted net income of $18.9 million ($1.00 a share) for the quarter ended June 30, compared to $16.6 million (87 cents) for the same period a year earlier. Revenue rose 1.5 percent to $160.5 million.
DineEquity reported earnings Tuesday.
Eight analysts surveyed by Thomson Financial estimated net income of $1.05 a share on revenue of $159.5 million.
The company also announced its intent to refinance its 3.75-percent credit facility and its 9.5-percent senior notes. As of last month, DineEquity’s senior secured credit facility and senior notes were $465 million and $761 million, respectively.
Shares of DineEquity fell $1.47, or about 2 percent, to $82.03 Wednesday.
STAMPS.COM
El Segundo’s Stamps.com on Wednesday reported a sharp jump in net income for the second quarter.
The company posted net income of $11.2 million (68 cents a share) for the quarter ended June 30, 22 percent higher than the same quarter last year. Revenue rose 7 percent to $34.3 million.
Stamps.com purchased shipment fulfillment provider ShipStation in Austin, Texas the second quarter for $50 million in cash. The acquisition reduced its dependence on the U.S. Postal Service.
“The acquisition of ShipStation represents a significant strategic investment in our high volume and e-commerce shipping business,” Ken McBride, Stamps.com’s chairman and chief executive, said in a statement announcing the earnings.
TETRATECH INC.
Pasadena environmental engineering and consulting firm TetraTech Inc. reported that it swung to a quarterly profit despite a decrease in revenues on Wednesday.
TetraTech reported earnings after markets closed. The company reported a quarterly net income of $26.7 million (41 cents a share), which compares with a $78.4 million loss one year ago.
Earnings fell short of analysts’ expectations of 42 cents a share.
Net revenue, not including subcontracting costs, fell 3 percent to $458,756.
Shares of TetraTech closed at $26.78 on the Nasdaq.
