Burger King Holdings bkc said Friday that it posted a profit in the fourth quarter compared with a loss a year earlier, fueled by strong sales worldwide as it completes its first year as a publicly traded company .
The world's second-largest hamburger chain reported net income for the quarter of $36 million, or 26 cents a share, vs. a loss of $10 million, or 8 cents a share, during the period in 2006. Sales for the fourth quarter were $590 million, up 11% compared with the quarter last year.
The quarterly earnings results fell slightly short of expectations, but sales were higher. Analysts polled by Thomson Financial had expected an average of earnings of 27 cents a share on sales of $580.4 million.
For the fiscal year, net income increased to $148 million, or about $1.08 per share, compared with $27 million, or 24 cents a share, the previous year. Full-year revenue was $2.23 billion, up 9% compared with the prior year.
Analysts polled by Thomson Financial had expected earnings per share of $1.09 on sales of $2.22 billion for the year.