CARPINTERIA, Calif. (AP) -- CKE Restaurants Inc. reported a fiscal first-quarter profit late Tuesday on stronger sales at its Carl's Jr. and Hardee's fast-food chains.
The privately held company said it earned $9.5 million for the 16-week period that ended May 21. That compares with a $2.6 million loss in the same period last year.
CKE's total revenue increased nearly 3 percent to $412.3 million from $400.6 million. Its revenue from company-owned stores open at least a year rose 2.6 percent. This is considered a key measure of financial performance because it strips away the impact of recently opened or closed stores. This is the seventh consecutive quarter that the company has posted gains in this measure with both of its brands.
CKE said that its profit margins improved on higher prices and lower food and packaging costs.
The company, based in Carpinteria, Calif., filed plans in May to go public. It first went public in in 1981. In 2010, private-equity firm Apollo Management bought it and took it private.
CKE has a total of 3,263 franchised or company-operated restaurants in 42 U.S. states and 25 other countries.