Wendy's International Inc. reported lower second-quarter profits Tuesday on expenses from restructuring and a special committee formed a year ago to seek a possible sale.
The results missed Wall Street expectations.
Wendy's, the third-largest burger chain in the United States, earned US$19.9 million, or 22 cents per share, down from $29.3 million, or 33 cents per share, a year ago.
Revenue edged lower to $632 million from $633 million.
Excluding special expenses, earnings from continuing operations came in at 30 cents per share, versus 41 cents per share in the same period a year ago, and below the 37 cents per share that analysts polled by Thomson Financial had been expecting.
Atlanta-based Triarc Companies Inc., the owner of Arby's, announced a deal in April to acquired Wendy's. The deal is expected to close by the end of the year.
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