* Says mulling sale or merger of co
* Q1 EPS $0.21 vs est $0.11
* Q1 rev up 3.6 pct to $104.9 mln
* Shares up more than 29 pct aftermarket
May 3 Bagel maker Einstein Noah Restaurant Group
will look at a possible merger or sale of itself,
sending its shares up more than 29 percent in extended trade.
The company, whose brands include Einstein Brothers, Noah's
and Manhattan Bagel, said Piper Jaffray will act as its
Greenlight Capital, which is headed by well-known hedge fund
trader David Einhorn, and its affiliates own about a 64 percent
stake in the company.
The company on Thursday reported a first-quarter net income
of $3.2 million, or 19 cents per share, compared to $1.2
million, or 7 cents per share.
Excluding items the company reported earnings of 21 cents,
according to Thomson Reuters I/B/E/S.
Analysts, on average, expected the company to post a profit
of 11 cents a share.
Earnings rose on improved gross margins as the company cut
cost cuts and introduced more options on its menu.
Einstein Noah shares rose to $18.09 on Thursday in after