DineEquity, Inc. Reports Fourth Quarter and Fiscal 2016 Results

GAAP net income available to common stockholders was $96.6 million for fiscal 2016, or earnings per diluted share of $5.33. This compares to net income available to common stockholders of $103.5 million, or earnings per diluted share of $5.52, for fiscal 2015. The decrease in GAAP net income was primarily due to lower gross profit, which included an incremental $9.4 million as a result of a 53rd week in fiscal 2015. The decrease was partially offset by lower income tax expense due to lower state tax rates applied to our deferred tax balances as the result of our restaurant support center consolidation as well as an improvement in general and administrative expenses mainly due to lower incentive compensation.

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