Cracker Barrel Old Country Store Inc Reaffirms FY 2012 Revenue Guidance; Raises FY 2012 EPS Guidance

Cracker Barrel Old Country Store Inc announced that for fiscal 2012, it expects total revenue of between $2.55 billion and $2.6 billion, reflecting anticipated increases in comparable store restaurant and retail sales in a range of 1.5% and 2.0%, and the opening of 13 new Cracker Barrel stores in the current fiscal year. The Company now expects adjusted earnings per diluted share (EPS) for fiscal 2012 of between $4.35 and $4.45, excluding proxy contest and severance expenses totaling $0.21 per diluted share. On a GAAP basis, the Company expects to report earnings per diluted share of between $4.14 and $4.24. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $2.56 billion and EPS of $4.31 for fiscal 2012.