DineEquity Q4 Adj. Earnings Top Estimates

(RTTNews) - DineEquity, Inc (DIN), the parent company of Applebee's Neighborhood Grill & Bar and IHOP restaurants, Wednesday reported nearly flat earnings and revenue for the fourth quarter. However, adjusted earnings increased year-over-year and beat analysts' estimates by a penny.

Earnings available to shareholders were nearly flat at $17.86 million, compared with $18.04 million in fourth quarter of last year. Earnings per share declined to $0.94 from $0.97 a year ago. Weighted average shares outstanding for diluted earning per share increased to 19,062 from 18,637 a year earlier.

Earnings results reflected a modest loss on the disposition of assets, compared with a gain in the same period last year, and slightly higher general and administrative expenses. These were partially offset by lower income tax expense and higher segment profit.

Excluding certain items, earnings increased to $18.6 million or $0.98 per share, from $15.5 million or $0.83 per share a year earlier.

On average, 9 analysts polled by Thomson-Reuters estimated the company's earnings to be $0.97 for the quarter. Analysts' estimates typically exclude one-time items.

For the three months to December, EBITDA was $101.62 million, compared with $99.32 million a year ago.

Total revenues were nearly flat at $157.9 million, compared with $158.64 million in the corresponding period last year.

For the full-year 2013, earnings decreased to $70.84 million or $3.70 per share, from $122.46 million or $6.63 per share in 2012. Annual revenues plunged to $640.47 million from $849.93 million a year earlier.