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Denny's WELCOME TO AMERICA'S DINERⓇ DENNY'S CORPORATION REPORTS RESULTS FOR FIRST QUARTER 2021 SPARTANBURG , S.C. , May 4 , 2021 - Denny's Corporation ( NASDAQ : DENN ) , franchisor and operator of one of America's largest franchised full - service restaurant chains , today reported results for its first quarter ended March 31 , 2021 and provided a business update on the impact of the COVID - 19 pandemic on the Company's operations . John Miller , Chief Executive Officer , stated , “ We entered 2021 confident in the resilience of Denny's given the strength of our franchisees and team that continues to persevere and deliver a great experience to our guests . Our initial optimism is now being supported by sequential sales improvements , as our dining rooms have reopened in various capacities with the increase of vaccine distributions . The easing of dine - in restrictions , coupled with fiscal stimulus and the rollout of our new virtual brands , have resulted in our same - store sales trending toward pre - pandemic levels . " First Quarter 2021 Highlights • Total Operating Revenue was $ 80.6 million . . • Domestic system - wide same - store sales ** decreased 20.0 % compared to the equivalent fiscal period in 2019 . Domestic system - wide same - store sales ** decreased 9.7 % compared to the equivalent fiscal period in 2020 . • Opened three franchised restaurants , including two international locations . • Operating Income was $ 5.5 million . Franchise Operating Margin * was $ 23.2 million , or 49.5 % of franchise and license revenue , and Company Restaurant Operating Margin * was $ 3.4 million , or 10.1 % of company restaurant sales . • Net Income was $ 23.2 million , or $ 0.35 per diluted share . • Adjusted Net Income * was $ 0.5 million , or $ 0.01 per diluted share . • Adjusted EBITDA * was $ 11.8 million . • Cash provided by operating , investing , and financing activities was $ 10.2 million , $ 0.2 million , and $ 0.2 million , respectively . • Adjusted Free Cash Flow * was $ 5.2 million . 1