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Thursday, November 05, 2009
Wendys/Arbys Swings To a Quarterly Profit
By Christopher Hinton
MarketWatch Pulse
NEW YORK -- Wendys/Arbys Group Inc. said Thursday its third-quarter earnings were $14.7 million, or 3 cents a share, compared to a loss of $12.1 million, or 13 cents a share, in the year-ago period. Excluding one-time charges, the fast-food retailer said earnings from continuing operations were 6 cents a share, in the most recent quarter. Analysts polled by FactSet Research were also looking for earnings of 6 cents a share, on average. Revenue rose to $903 million from $310 million, and includes the impact of the company's Triarc acquisition. North American same-store sales decreased 9% for the most recent quarter, and fell 0.1% worldwide. Shares of Wendys/Arbys rose nearly 4% premarket to $4.32 each.
Copyright © 2009 MarketWatch, Inc.
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