Reuters logo
P.F. Chang's posts profit, reaffirms outlook
July 28, 2010 / 11:39 AM / 7 years ago

P.F. Chang's posts profit, reaffirms outlook

DETROIT (Reuters) - P.F. Chang’s China Bistro PFCB.O reported a higher quarterly profit on Wednesday, helped by menu price increases at its restaurants.

The Scottsdale, Arizona-based chain, which saw happy hour discounts hurt margins in the March quarter, said net income for the June quarter rose 10 percent to $12.8 million, or 55 cents per share, compared with $11.6 million, or 49 cents per share, a year earlier.

Analysts, on average, were looking for a profit of 56 cents per share, according to Thomson Reuters I/B/E/S.

Revenue rose 3.8 percent to $312.8 million as overall sales at restaurants open at least 18 months inched up 0.1 percent at the Bistro and 3 percent at the smaller Pei Wei quick-service chain. Analysts were expecting sales of $312.75 million.

The company also repeated its prior 2010 profit forecast of about $2 per share. Analysts expect $1.99 a share.

Reporting by Lisa Baertlein and Ben Klayman; Editing by Derek Caney

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below