Buffalo Wild Wings 3rd-quarter profit jumps

Buffalo Wild Wings 3Q earnings rise 50 pct on strong sales growth for the restaurant operator

• On 4:53 pm EDT, Tuesday October 27, 2009

MINNEAPOLIS (AP) -- Buffalo Wild Wings Inc. said Tuesday its third-quarter profit jumped on a 25 percent increase in sales, and the restaurant operator predicted earnings growth of at least 20 percent in 2009.

The company reported late Tuesday net income rose 50 percent to $6.9 million, or 38 cents per share, from $4.6 million, or 25 cents per share, last year.

Sales for the quarter ended Sept. 27 rose 25 percent to $132.7 million from $106.1 million a year ago.

Analysts surveyed by Thomson Reuters expected the company to earn 38 cents per share on revenue of $136.7 million.

Sales at restaurants open at least a year grew 0.8 percent for company owned sites and 1.9 at franchised sites. These sales are considered a key indicator of a retailer's financial health because they measure performance at established sites.

The company expects earnings growth between 20 percent and 25 percent for 2009 and revenue growth of 25 percent.

For 2010, Buffalo Wild Wings expects earnings growth of 20 percent.

Buffalo Wild Wings, which is based in Minneapolis, operates restaurants that sell food including Buffalo-style chicken wings.