Wendy's Earnings Fell Nearly 30 In Final Quarter of 2011
Wendy's Co. says its adjusted earnings fell 29.5 percent in the fourth quarter, while its revenue rose 5.6 percent. The hamburger chain said Monday its income from continuing operations was $4.3 million in the period ended Jan. 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. 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.