BOSTON (Thomson Financial) - Shares of Papa John's International Inc. rose
Friday after the Louisville, Ky.-based pizza delivery chain provided an earnings
outlook for 2008 and announced an increase the company's buyback plan.
Late Thursday, the company said it expects 2008 earnings of $1.68 to $1.76 a
share, excluding the impact from consolidation of results related to
franchisee-owned cheese purchasing company BIBP Commodities.
Analysts polled by Thomson Financial, on average, estimate 2008 earnings of
$1.73 a share.
Papa John's also said its board approved a $50 million increase in the
amount of the company's common stock that may be repurchased. The authorization
is effective beginning Jan. 1, 2008, and runs through Dec. 28, 2008.
Shares rose 7.5% to $24.93.
Casey Logan
cl/pc
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