IHOP finds right menu with Applebee's

The addition of Applebee's International Inc. to International House of Pancakes Corp. is proving to be a perfect menu change for the Glendale, Calif.-based company, and the proof is in the pudding, or should we say the earnings.

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For the first full quarter since its buy of Applebee's for $2.04 billion on Nov. 29, 2007, IHOP Monday reported earnings of $13.85 million on revenue of $442.8 million. In the same period in 2007, IHOP had earnings of $11.3 million on revenue of $90.1 million. Quarterly profit totaled $8.6 million, slipping from $11.3 million in the same-year ago period. The decline is primarily due to higher interest expense from financing its Applebee's acquisition, and higher general and administrative expenses related to Applebee's. - Gerald Magpily

See IHOP press release
See Dealscape: Investor against adding pancakes to Applebee's menu
See TheDeal.com: Applebee's goes to IHOP for $2.1B

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