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Yum! Brands post lower fourth-quarter profit
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.
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