Wendy's posts profit, to sell 425 restaurants

Tue Jul 23, 2013 7:58am EDT

The Wendy's signage is pictured at a Wendy's restaurant in Westminster, Colorado March 2, 2009. REUTERS/Rick Wilking

The Wendy's signage is pictured at a Wendy's restaurant in Westminster, Colorado March 2, 2009.

Credit: Reuters/Rick Wilking

(Reuters) - Wendy's Co (WEN.O), the second-largest U.S. hamburger chain, reported a quarterly profit on Tuesday and announced a plan to sell about 425 restaurants by mid-2014.

Second-quarter net income came to $12.2 million, or 3 cents per share, compared with a year-earlier loss of $5.5 million, or 1 cent per share.

Excluding debt retirement costs and other one-time expenses, earnings rose to 8 cents per share from 5 cents.

(Reporting by Atossa Araxia Abrahamian; Editing by Lisa Von Ahn)