UPDATE: Cracker Barrel Posts 37% Rise In FQ2 Profit, Lifts Full-Year Forecast

Cracker Barrel Old Country Store CBRL reported a 37% rise in its fiscal second-quarter income. Cracker Barrel lifted its earnings forecast for the year to $4.60 to $4.80 per share. It expects FQ3 income of $0.90 to $0.95 per share, versus analysts' estimates of $0.92 per share. Cracker Barrel's quarterly profit surged to $35.2 million, or $1.47 per share, versus $25.6 million, or $1.10 per share, in the year-ago period. Excluding one-time items, it earned $1.43 per share. Cracker Barrel in November expected adjusted income of $1.22 to $1.27 per share. Its revenue rose 4.4% to $702.7 million, versus analysts' estimates of $694 million. Its gross margin rose to 65.2% from 65%. Cracker Barrel shares closed at $66.95 yesterday.