Burger King F2009 Q4 Comparable Sales shrinks 2.4 %

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Burger King

August 25, 2009
Burger King Holdings Inc. (NYSE:BKC) today reported results for the fourth quarter and the full 2009 fiscal year ended June 30, 2009.

Fourth Quarter Highlights:
 
  • Strong development growth continued with net restaurant count increasing by 115
  • Worldwide comparable sales were negative 2.4 percent compared to positive 5.3 percent in the same period last year
  • U.S. and Canada company restaurant margins improved 130 basis points to 13.5 percent from 12.2 percent in the same period last year
  • Earnings per share were $0.43, including $0.03per share of negative impact from currency translation, compared to $0.37 in the same period last year
Fiscal year highlights:
  • Completed six consecutive years of positive comparable sales
  • Worldwide comparable sales increased 1.2 percent compared to 5.4 percent in the same period last year
  • Opened a net 360 restaurants, 28 percent higher than the prior year and the highest in almost a decade
  • Development outside the U.S. and Canada represented over 90 percent of the net growth -- the best international development year in the history of the company
  • Cash flow from operations was $310.8 million, up 28 percent compared to $243.4 million in fiscal 2008
  • Reduced debt and capital leases by $59 million
  • Earnings per share and adjusted earnings per share were $1.48, respectively, including$0.10 per share of negative impact from currency translation, compared to $1.38 in the prior year period

Earnings call transcript

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