Burger King 4Q results top analysts' estimates

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Associated Press

Posted on February 15, 2013 at 7:01 AM

Updated Friday, Feb 15 at 7:02 AM

MIAMI (AP) — Burger King's fourth-quarter net income nearly doubled thanks in part to lower expenses and strengthening results in the U.S. and Canada.

Its adjusted earnings and revenue topped Wall Street's expectations.

For the three months ended Dec. 31, the hamburger chain earned $48.6 million, or 14 cents per share. That compares with $25 million, or 7 cents per share, a year earlier.

Removing realignment project costs and other items, earnings were 23 cents per share. Analysts expected 15 cents per share.

Revenue fell 30 percent to $404.5 million from $580.6 million. Analysts forecast revenue of $375.3 million.

The Miami company also said Friday that a key revenue metric climbed 2.7 percent.

Burger King Worldwide Inc. has more than 12,900 locations in 86 countries and territories.

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