Yum! Brands post lower fourth-quarter profit

Yum! Brands post lower fourth-quarter profit
Tags: Burger/Steak/BBQ, Chicken, Drive-thru, International, Italian/Pizza, Sandwich, Seafood, Trends / Statistics
February 7, 2006

Forbes: Yum! Brands Inc. said Monday that its fourth-quarter profit fell 4 percent, stemming from an accounting expense for employee stock options even as the company posted double-digit gains in its U.S. and some of its overseas operations.

Operating profits were off sharply in Yum's fast-growing China division, which the company blamed partly on worries about avian flu. The parent of KFC, Taco Bell and Pizza Hut posted net income of $226 million for the three months ended Dec. 31, compared with $235 million a year ago, though earnings per share in the latest period were flat at 77 cents because of a change in the number of shares outstanding.