AFC Enterprises Inc. (AFCE) Wednesday reported first-quarter net income $9.6 million or $0.40 per share, compared to $8.3 million or $0.34 per share in the same period last year.
On an adjusted basis, earnings were $0.40 per share, up 14% from $0.35 per share in the prior year. On average, four analysts polled by Thomson Reuters expected the company to earn $0.40 per share for the quarter. Analysts' estimates typically exclude special items.
Meanwhile, revenues totaled $60.4 million, up from $52.8 million in the prior year, while two analysts had consensus revenue estimate of $59.30 million for the quarter.
Looking ahead to the fiscal year 2013, the company expects adjusted earnings to be at the upper end of the range of its previously stated guidance of $1.37 to $1.42. Analysts currently expect the company to earn $1.39 per share for 2013.
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