Papa John's Restates Earnings
Papa John's International Inc. (PZZA, $51.47, -$5.18, -9.14%) has restated its financial results for the 2009 through 2011 fiscal years as well as the first three quarters of 2012 due to an accounting error for one of its joint-venture agreements. The
Papa John's reported fourth quarter 2012 earnings of 74 cents per share.
Oops. Papa John's International Inc.(PZZA), a popular US pizza chain, found a mistake in its accounting practices that forced it to restate its past earnings last week — resulting in a hefty 9% drop in their stock price. Carla Mozee for Marketwatch
Good day, ladies and gentlemen and welcome to the Papa John's Fourth Quarter and Full Year 2012 Conference Call and Webcast. At this time, all participants are in a listen-only mode and later we will conduct a
Papa John's CEO John Schnatter has been particularly aggressive with those threats, insisting that insuring workers would mean both raising prices and cutting worker hours. But despite his inflated estimates of how big those