Papa John's has announced revenues of US$256.3 million for the second quarter of 2007, representing an increase of 6.1% from revenues of $241.6 million for the same period in 2006, and the company says its China operations are growing.
A total of 18 restaurants were opened in international markets during the second quarter of 2007, of which eight were located in the company's fastest-growing markets, Korea and China.
As of July 1, 2007, the company had a total of 121 corporate and franchised restaurants open in Korea and China and contractual agreements for an additional 369 Papa John's franchised restaurants to be opened in those countries over the next seven years. The company's total international development pipeline as of July 1, 2007 included approximately 800 restaurants scheduled to open over the next nine years.
Net income for the second quarter of 2007 for the company was US$7.0 million.