AFC Enterprises Q2 total revenues increase

Fri. August 22, 2008; Posted: 06:17 AM

Aug 22, 2008 (Datamonitor via COMTEX) -- AFCE | Quote | Chart | News | PowerRating -- AFC Enterprises, a franchisor and operator of Popeyes restaurants, has reported total revenues of $39.3 million for the second quarter ended July 13, 2008, compared to $38.3 million for the same period of 2007.

Net income stood at $6.6 million, or $0.26 per diluted share, compared to $6.6 million, or $0.22 per diluted share, for the same period of 2007. Total system-wide sales increased by 1.5%, compared to 2.9% in the corresponding period of 2007.

The company reported a net income of $13 million, or $0.50 per diluted share, for the six months ended July 13, 2008, compared to $13 million, or $0.44 per diluted share, for the same period of 2007. Total revenues were $92.6 million for the six months ended July 13, 2008, compared to $89.3 million for the same period of 2007.

Cheryl Bachelder, CEO of AFC, said: "We were pleased with our earnings performance for the second quarter. Our same-store sales continue to be impacted by the current economic environment; however, we believe our marketing and messaging helped us during the quarter as our comparable sales performance continued to outpace the chicken quick service restaurant segment."

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