AFC Enterprises Inc. (AFCE: Quote) reported that Global same-store sales increased 6.0% in the fourth quarter, on top of a 5.8% increase last year.
For the full year 2012, global same store sales increased 6.8% compared to a 3.1% increase in 2011, exceeding the Company’s previous guidance of positive 6% to 6.5%.
The company expects final general and administrative expenses for fiscal 2012 will be approximately $67.6 million. At approximately 3.0% of system-wide sales, the Company’s general and administrative expenses remain among the most efficient in the restaurant industry. The Company’s previous guidance was $67 to 68 million at approximately 3.0% of system-wide sales.
The company now expects fiscal 2012 reported earnings per share will be $1.23-$1.24, compared to $0.97 in fiscal 2011, an increase of 27%. Adjusted earnings per share for fiscal 2012, which included about $0.01 for the 53rd week of operations, is now expected to be $1.23-$1.24, compared to adjusted EPS of $0.99 last year. This is an increase from the company’s previous 2012 adjusted earnings per share guidance of $1.19-$1.21.
Analysts polled by Thomson Reuters expect the company to report earnings of $1.21 per share for fiscal 2012. Analysts’ estimates typically exclude special items.
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by RTT Staff Writer
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