AFC Enterprises Posts Upbeat Q1 Profit, Lifts Full-Year Forecast

AFC Enterprises Inc AFCE reported a 15% rise in its fiscal first-quarter earnings. AFC Enterprises lifted its full-year profit forecast to $1.13 to $1.16 per share, versus its March outlook of $1.09 to $1.13 per share. Its global same-store sales climbed 7.4%, while domestic same-store sales surged 8.1%. AFC Enterprises' quarterly earnings rose to $8.3 million, or $0.34 per share, from $7.2 million, or $0.28 per share, in the year-ago period. Excluding items, AFC Enterprises earned $0.35 per share. Its total revenue climbed 13% to $52.8 million. However, analysts were expecting earnings of $0.31 per share. AFC Enterprises' operating margin rose to 26.9% from 26.7%. AFC Enterprises shares closed at $18.11 yesterday.