Burger King posts robust second quarter results
2007 Jan 30 Burger King Holdings Inc. (NYSE:BKC) delivered robust results for the second quarter of its 2007 fiscal year. The company again posted solid growth in revenues, driven broadly by strong comparable sales and new restaurant openings. Company restaurant margins, net income and earnings per share also improved.
Company Announces First Quarterly Dividend as a Public Company
MIAMI--(BUSINESS WIRE)--Jan. 30, 2007--Burger King Holdings Inc. (NYSE:BKC):
Second quarter highlights:
• 12th consecutive quarter of worldwide positive comparable sales
• Quarterly revenues reach record high; up 9 percent
• Net income increases by 41 percent to $38 million; 9 percent increase on adjusted basis
• EPS increases 17 percent to 28 cents; 8 percent increase on adjusted basis
Burger King Holdings Inc. (NYSE:BKC) delivered robust results for the second quarter of its 2007 fiscal year. The company again posted solid growth in revenues, driven broadly by strong comparable sales and new restaurant openings. Company restaurant margins, net income and earnings per share also improved.
Worldwide, comparable sales were up 3.7 percent, making this the 12th consecutive quarter of positive comparable sales increases. In North America, comparable sales were up 4.4 percent, the 11th consecutive quarter of positive comparable sales increases.
"We're consistently delivering strong results by staying focused on our global 'Go Forward' growth plan," said Burger King CEO John W. Chidsey. "Our brand and our great food continue to resonate with our restaurant guests. Specifically, our BK(TM) Value Menu, as well as our innovative Xbox(R) game collection--which was the best-selling video game of the holiday season, with more than 3.2 million copies sold--increased both sales and restaurant traffic."
Driven by positive comparable sales in every region worldwide and an increase in new restaurant openings, revenues for the second quarter of fiscal year 2007 reached a record $559 million--an increase of 9 percent from the same quarter of the previous fiscal year.
Company restaurant margins increased for a third consecutive quarter--up 70 basis points to 15.9 percent from 15.2 percent in the same period last year--driven primarily by lower food costs and higher revenues at company-owned restaurants.
Net income increased 41 percent to $38 million from $27 million during the same period last year. On an adjusted basis, net income rose 9 percent to $38 million from $35 million during the same period last year, which takes into account $5 million in unusual items in the prior year, including $3 million in sponsor-management fees.
Earnings per share increased 17 percent to 28 cents per share in the second quarter, as compared to 24 cents per share in the same quarter last year. Earnings per share rose 8 percent to 28 cents per share from adjusted earnings per share of 26 cents in the same period last year.
Company Announces First Quarterly Dividend as a Public Company
MIAMI--(BUSINESS WIRE)--Jan. 30, 2007--Burger King Holdings Inc. (NYSE:BKC):
Second quarter highlights:
• 12th consecutive quarter of worldwide positive comparable sales
• Quarterly revenues reach record high; up 9 percent
• Net income increases by 41 percent to $38 million; 9 percent increase on adjusted basis
• EPS increases 17 percent to 28 cents; 8 percent increase on adjusted basis
Burger King Holdings Inc. (NYSE:BKC) delivered robust results for the second quarter of its 2007 fiscal year. The company again posted solid growth in revenues, driven broadly by strong comparable sales and new restaurant openings. Company restaurant margins, net income and earnings per share also improved.
Worldwide, comparable sales were up 3.7 percent, making this the 12th consecutive quarter of positive comparable sales increases. In North America, comparable sales were up 4.4 percent, the 11th consecutive quarter of positive comparable sales increases.
"We're consistently delivering strong results by staying focused on our global 'Go Forward' growth plan," said Burger King CEO John W. Chidsey. "Our brand and our great food continue to resonate with our restaurant guests. Specifically, our BK(TM) Value Menu, as well as our innovative Xbox(R) game collection--which was the best-selling video game of the holiday season, with more than 3.2 million copies sold--increased both sales and restaurant traffic."
Driven by positive comparable sales in every region worldwide and an increase in new restaurant openings, revenues for the second quarter of fiscal year 2007 reached a record $559 million--an increase of 9 percent from the same quarter of the previous fiscal year.
Company restaurant margins increased for a third consecutive quarter--up 70 basis points to 15.9 percent from 15.2 percent in the same period last year--driven primarily by lower food costs and higher revenues at company-owned restaurants.
Net income increased 41 percent to $38 million from $27 million during the same period last year. On an adjusted basis, net income rose 9 percent to $38 million from $35 million during the same period last year, which takes into account $5 million in unusual items in the prior year, including $3 million in sponsor-management fees.
Earnings per share increased 17 percent to 28 cents per share in the second quarter, as compared to 24 cents per share in the same quarter last year. Earnings per share rose 8 percent to 28 cents per share from adjusted earnings per share of 26 cents in the same period last year.
