Dunkin' Brands' net income falls on charges
CANTON, Mass. (AP) — Dunkin' Brands Group Inc., the parent of Dunkin' Donuts and the Baskin-Robbins ice cream chain, saw net income plummet 61 percent in the July-to-September quarter, as the company paid charges related to going public and paying down debt.
Net income fell to $7.4 million from $18.8 million. Without the one-time charges, it would have risen 32 percent to $31.3 million.
Earnings were 28 cents per share without the special items, beating analysts' estimates of 25 cents, according to FactSet. Revenue grew 9 percent to $163.5 million, which also beat the Wall Street forecast of $159.3 million.
Dunkin' Brands went public in July, partly as a way to help pay down debt. It's now focused on expanding outside its home base in the Northeast U.S.