It's Good to Be King, Burger King!posted by MR WAVETHEORY at 1/31/2007 04:58:00 AM
Burger King Holdings Inc., the world's second-largest burger chain, said Tuesday its fiscal second-quarter profit jumped 41 percent on solid same-store sales and income from new restaurants, as the company continues to revitalize its brand through aggressive marketing and expansion.
It looks like EPS growth was stellar and got a boost from XBOX.
Net income rose to $38 million, or 28 cents per share, for the three months ended Dec. 31 compared with $27 million, or 24 cents per share, a year ago. Revenue climbed 9 percent to $559 million from $512 million.
Analysts polled by Thomson Financial had forecast earnings of 26 cents per share on sales of $544.7 million.
Same-store sales, or sales at restaurants open at least a year, rose 3.7 percent worldwide and 4.4 percent in North America. It was the Miami-based chain's 12th consecutive quarter of worldwide positive comparable sales.
The difference in market cap between Burger King and MacDonald's is huge. Burger king has a market cap of $2.5 billion. Ronald MacDonald: $54 billion.
There are some growth opportunities here along with a new health approach to dining (non transfat testing)
The chain said it expects more success with its breakfast value menu that is set to debut Feb. 19, with 10 items priced beginning at $1 that include French toast sticks and a new Hamlette sandwich, made with ham, cheese and egg.
Burger King also is beginning an expansion into Asia, with restaurants opening in Indonesia beginning in June. The chain also plans to open a new restaurant in Japan this year.
The King is second the Ronald MacDonald and operates more than 11,100 restaurants in all 50 states and in 65 countries. Ronald has 30,000 restaurants in 100 countries.
For some fun, check out the Burger King called "Eat Like A Snake" promoting the Triple Whopper.