CKE Restaurants Beats Wall Street Estimates (CKR)
Fast food name, CKE Restaurants (NYSE: CKR), reported their quarterly earnings today after the closing bell. The Carpinteria, California based company reported net income of $15.4 million or $0.28 per share, compared to $2.6 million or $0.05 per share in the prior year period. On an adjusted basis, EPS were $0.30 versus $0.14 in last year's fourth quarter. Wall Street analysts' consensus estimates were that CKR would earn $0.06 per share.
Total revenue for the quarter was $311.7 million versus $327.5 million in last year's corresponding quarter. This compared to analyst estimates of $312.13 million. CKE Restaurants (CKR) recently agreed to be acquired by private equity firm Thomas H. Lee partners for $11.05 a share. The restaurant chain has until April 6, however, to solicit better offers.
