Domino's Pizza, Inc. (NYSE:DPZ), the recognized world leader in pizza delivery, today announced results for the second quarter of 2017, comprised of strong growth in same store sales, global store counts and earnings per share.

Second Quarter Highlights:

• Global retail sales: $2.7 billion, with over $1.3 billion in the U.S. and nearly $1.4 billion internationally.
• Net income: UP 33.3% to $65.7 million from the same period a year ago primarily driven by an increase in same store sales growth and store count as well as higher supply chain volumes and lower food costs.
• Diluted earnings per share: UP 34.7% to $ 1.32 driven by the increase in net income, as well as lower diluted share count, primarily as a result of the share repurchases made during the trailing four quarters.
• Revenues: UP 14.8% due primarily to higher supply chain revenues from increased volumes and also from higher same store sales and store count growth in both our domestic and international markets 
• Domestic same store sales: UP 9.5% which represents the 25th consecutive quarter of positive sales momentum in the Company's domestic business. (The Company uses "Same store sales growth," which is calculated by including only sales from stores that also had sales in the comparable period of the prior year.)
• International same store sales: UP 2.6% marking the 94^th consecutive quarter of positive international same store sales growth. (International same store sales growth is calculated similarly to domestic same store sales growth. Changes in international same store sales are reported excluding foreign currency impacts, which reflect changes in international local currency sales.)
• Global net store growth: UP 17% (+217 stores - 39 net new domestic stores and 178 net new stores internationally). The Company has added 1,281 net new stores over the trailing four quarters and now has 5,399 stores domestically and 8,601 internationally for a total of 10,000 stores. (The Company believes global retail sales information is useful in analyzing revenues because franchisees pay royalties that are based on a percentage of franchise retail sales.)

During the quarter, the Company's Board of Directors declared a 46-cent per share quarterly dividend for shareholders of record as of June 15, 2017, which was paid on June 30, 2017.

The Company did not repurchase any shares under its open market share repurchase program during the second quarter of 2017. As of June 18, 2017, the Company had a total remaining authorized amount for share repurchases of $136.4 million.

2017 Recapitalization
On July 24, 2017, the Company completed its recapitalization with the receipt of $1.9 billion of gross proceeds. The Company borrowed $1.6 billion of fixed rate senior secured notes and $300.0 million of floating rate senior secured notes and entered into a new $175.0 million variable funding note facility,
which replaced its previous $125.0 million variable funding note facility.

The Company will use a portion of the proceeds from the recapitalization to repay the remaining $910.5 million in outstanding principal and interest under
its 2012 fixed rate notes on July 27, 2017. The proceeds will also be used to pay transaction-related fees and expenses in connection with the 2017
recapitalization and to pre-fund a portion of the principal and interest payable on the 2017 notes. The Company will use the remaining proceeds for
general corporate purposes.

Liquidity
As of June 18, 2017, the Company had approximately:

• $52.2 million of unrestricted cash and cash equivalents;
• $2.18 billion in total debt; and
• $79.3 million of available borrowings under its $125.0 million variable funding notes, net of letters of credit issued of $45.7 million. The Company has collateralized all of its letters of credit with restricted cash, and has the ability to access this cash with minimal notice.
• $89.9 million of free cash flow in the two fiscal quarters of 2017. (The Company believes that the free cash flow measure is important to investors and other interested persons, and that such persons benefit from having a measure which communicates how much cash flow is available for working capital needs or to be used for repurchasing debt, making acquisitions, repurchasing common stock, paying dividends or other similar uses of cash.)

J. Patrick Doyle, Domino's President and Chief Executive Officer, said in the company's press release that:

"It was another outstanding quarter for our domestic business, as brand momentum, strong execution and emphasis on getting better each day continued to drive what we do.

While international same store sales growth was slightly under our expectations, we remain very confident in our continued ability to generate best-in-class growth, and are encouraged by the strong store growth we are seeing from our international franchisees."