“DUBLIN, Ohio (AP) — Wendy’s fiscal fourth-quarter earnings topped Wall Street’s view, even as a key indicator of sales at North American restaurants dipped slightly. The hamburger chain also maintained its fiscal 2013 adjusted earnings forecast above analysts’ estimates, and its stock rose more than 4 percent in premarket trading Wednesday.
Wendy’s net income jumped to $22.4 million, or 6 cents per share, for the three months ended Dec. 30. That’s up sharply from $4 million, or 1 cent per share, a year earlier.
The current quarter’s results included a tax benefit, lower interest expense and a sharp rise in investment income.
Removing impairment charges, facility relocation costs and other items, adjusted earnings were 8 cents per share.
Revenue increased 2 percent to $629.9 million from $615 million.
Analysts surveyed by FactSet expected adjusted earnings of 4 cents per share on revenue of $637 million….”
If you enjoy the content at iBankCoin, please follow us on Twitter
