Burger King F2009 Q4 Comparable Sales shrinks 2.4 %

• 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

• 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