Business | Retail
Wendy's revenue beats prediction but earnings fall 29.5% to $4.3m
Hamburger chain's earnings fuelled by rising prices, more visitors
- AP
- Published: 00:00 January 31, 2012
Dublin, Ohio: Wendy's said its adjusted earnings fell 29.5 per cent in the fourth quarter of the fiscal year, while its revenue rose 5.6 per cent,
The hamburger chain said yesterday its income from continuing operations was $4.3 million in the period ended January 1. That was down from $6.1 million a year ago.
The adjusted number stripped out one-time charges like costs related to selling Arby's and writing down the value of some assets.
Charges
The company didn't report what net income would be if those charges were factored in.
Earnings were 4 cents per share, in line with the predictions of analysts polled by FactSet. After adjusting for the one-time charges, earnings were 1 cent per share.
Wendy's says revenue rose to $615 million, beating the $613 million predicted by analysts polled by FactSet. More visitors and higher prices helped.
Shares fell 2 per cent in early trading to $5.10.
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