Domino’s executives and shareholders were a little happier after the latest quarterly earnings reports were released.  The Ann Arbor, MI based company has reported double-digit profit gains for the second quarter of 2010.

Much of the increase has been attributed to Domino’s new pizza recipe and aggressive marketing campaign.  The new recipe, which featured a more flavorful cheese, sauce and crust, was launched late last year in response to several quarters of stagnant domestic sales.

Domino’s profits were up a healthy 55.7% to $22.6 million compared to the same time last year.  The growth was fueled by an increase in domestic and international sales, as well as store growth.  Shareholders saw increases of 57% as shares rose to 33 cents per share.

The first quarter saw the pizza-maker record a 3.2% increase in profits, while enjoying a big jump in sales during the quarter as they rose 14.3%.  The first quarter surge, combined with lower than expected interest rates, drove the second quarter success.

Domino’s international same-stores sales increased by 6.2% for an amazing 66th straight quarter in the black.  The company’s overall revenue rose by 14.5% totaling $362.4 million, well over the $344.5, which had been projected by Wall Street.

Domino’s wasn’t the only pizza-maker who saw impressive second quarter gains.  Competitors Pizza Hut and Papa John’s also saw their earnings and profits rise during the quarter.  Matt DiFrisco, an Oppenheimer analyst, says the success of the three large pizza industry players is evidence of a recovering industry.

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