AFC Enterprises’ 2nd-quarter net income rises 6.3 percent on lower expensesBy AP
Wednesday, August 18, 2010
AFC Enterprises 2Q net income rises 6.3 percent
ATLANTA — AFC Enterprises Inc., the operator of Popeyes restaurants, said Wednesday that its second-quarter net income rose 6.3 percent on lower costs.
The company earned $6.8 million, or 26 cents per share, up from $6.4 million, or 25 cents per share, during the same period last year. Revenue fell 4 percent to $34.3 million from $35.7 million.
Analysts polled by Thomson Reuters expected net income of 19 cents per share on $34.5 million in revenue.
Expenses during the quarter fell about 1 percent to $24.1 million while income taxes fell 54 percent to $1.7 million.
The company said it now expects to earn between 75 cents and 79 cents per share in 2010, up from 73 cents to 77 cents per share. Analysts expect the company to earn 77 cents per share for the year.
AFC’s shares were unchanged in after-hours trading after rising 5 cents to close at $10.28 during the regular trading session.
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