AFC Enterprises Inc. (AFCE) Wednesday reported an increase in profit for the fourth quarter, helped mainly by higher revenues.
Net income for the quarter increased to $8.6 million or $0.35 per share from $5.7 million or $0.23 per share in the same period last year.
On an adjusted basis, earnings were $0.34 per share, compared with $0.24 per share in the prior year. On average, three analysts polled by Thomson Reuters expected the company to earn $0.33 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, revenues totaled $47.5 million, up from $36.3 million in the prior year. Same-store sales increased 6.2 percent, compared to 5.8 percent a year ago.
Looking ahead to the fiscal year 2013, the company expects adjusted earnings in the range of $1.37 per share to $1.42 per share. Analysts currently expect the company to earn $1.44 per share for 2013.
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