Wendy's Earnings Increase 28 Percent
Jan. 30, 2004
DUBLIN, Ohio (AP) _ Wendy's International Inc. on Friday reported fourth-quarter earnings increased 28 percent, helped by new menu items, strong sales and a favorable Canadian currency exchange rate for its Tim Horton's chain.
The third-largest U.S. hamburger chain operator reported a profit of $64.7 million, or 56 cents per share, in the three months ended Dec. 28 compared with $50.7 million, or 44 cents per share, a year ago.
Analysts surveyed by Thomson First Call were expecting earnings of 54 cents per share for the quarter.
Sales increased more than 21 percent to $862.4 million from $711.6 million.
For the year, Wendy's earned just under $236 million, or $2.05 a share, on sales of $3.1 billion. It earned $219 million, or $1.89 a share, on sales of $2.7 billion a year earlier.
Wendy's, based in this Columbus suburb, operates about 9,100 Wendy's Old Fashioned Hamburgers, Tim Horton's coffee-and-doughnut shops and Baja Fresh Mexican Grill restaurants.
It also is part owner of Cafe Express and Pasta Pomodoro.
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