Burger King Holdings Inc. announced its fourth quarter earnings today. The company's profit fell to $49 million, or 36 cents a share, from $58.9 million, or 43 cents a share, in the same period a year ago.
Despite the drop, most analysts predicted the company to earn 33 cents a share.
Highlights from the 4Q report include:
- Worldwide comparable sales were negative 0.7 percent, compared to negative 2.4 percent in the same period of 2009.
- U.S. and Canada comparable sales were negative 1.5 percent, compared to negative 4.5 percent in the same period of 2009.
- The net restaurant count increased by 59 units.
On the whole, for fiscal year 2010:
- Worldwide comparable sales were negative 2.3 percent, compared to positive 1.2 percent in the same period of 2009.
- U.S. and Canada comparable sales were negative 3.9 percent, compared to positive 0.4 percent in the same period of 2009.
- The net restaurant count increased 249 over the prior 12-month period, representing a 2.1 percent growth rate.
- Burger King paid down $67.7 million of debt and capital leases.
