Shares of Denny’s Corporation (NASDAQ: DENN) closed the trading at a price of $15.93 with the negative change of -1.67%. In the past session approximately 79,135 shares were exchanged against the average daily trading volume of 275,675 shares. The stock touched to the maximum level of $16.36, and it reached the lower level of $15.91 in past session. The stock’s market capitalization has now valued at $1.013B. The stock’s low price in its 52 week is $11.24 per share while $17.75 as the 52 week high price.

Denny’s Corporation (DENN) recently stated results for its first quarter ended March 28, 2018.

First Quarter 2018 Highlights

• Total Operating Revenue grew 21.4% to $155.3M, primarily Because of revenue recognition changes.
• Domestic system-wide same-store sales** grew 1.5%, including raises of 3.2% at company restaurants and 1.2% at domestic franchised restaurants.
• Completed 52 remodels, including 51 at franchised restaurants.
• Operating Income grew 0.8% to $16.4M.
• Company Restaurant Operating Margin* was $14.3M and Franchise Operating Margin* was $25.5M.
• Net Income was $9.8M, or $0.15 per diluted share.
• Adjusted Net Income* was $9.8M, while Adjusted Net Income Per Share* was $0.15.
• Adjusted EBITDA* raised 10.2% to $22.3M.
• Generated $5.0M of Adjusted Free Cash Flow*, after cash capital expenditures.

First Quarter Results

• Revenue Recognition Changes
• Effective December 28, 2017, the first day of fiscal 2018, the Company adopted Accounting Standards Update 2014-09, “Revenue from Contracts with Consumers (Topic 606),” and all subsequent ASUs that modified Topic 606 on a modified retrospective basis. Results for reporting periods starting after December 28, 2017 are presented under Topic 606. Previous period amounts are not adjusted and continue to be stated in accordance with our historical accounting under Topic 605 “Revenue Recognition.”
• Denny’s total operating revenue grew 21.4% to $155.3M primarily Because of recognizing franchise advertising revenue on a gross basis in accordance with Topic 606 and an raise in company restaurant sales. Company restaurant sales were up 7.9% to $101.2MBecause of a greater number of company restaurants contrast to the previous year quarter and same-store sales growth. Franchise and license revenue grew 58.4% to $54.1M contrast to $34.1M in the previous year quarter primarily Because of recognizing $19.3M of advertising revenue in accordance with Topic 606, and raises in initial fees which were also influenced by revenue recognition changes. Additionally, royalty revenue was partially offset by lower occupancy revenue Because of planned lease terminations.
• Company Restaurant Operating Margin* was $14.3M, or 14.2% of company restaurant sales, contrast to $15.9M, or 17.0%, in the previous year quarter. This was primarily Because of an raise in third-party delivery costs, a previous year benefit in general liability expense, and an predictable rise in product costs and minimum wages, partially offset by higher sales. Franchise Operating Margin* was $25.5M, or 47.2% of franchise and license revenue, contrast to $24.4M, or 71.4%, in the previous year quarter. This was primarily Because of recording advertising revenue and related costs on a gross basis in accordance with Topic 606, an raise in initial fees which were also influenced by revenue recognition changes, and growth in royalty revenue, partially offset by other direct costs and a reduction in occupancy margin.

It has 62.84 million of outstanding shares and its shares float measured at 61.75. (DENN) stock price showed weak performance of -3.63% in last seven days, switched up 4.46% in last thirty days and it rose 35.57% in last one year.