U.S. Markets open in 7 hrs 31 mins

Bojangles tops 4Q profit forecasts

CHARLOTTE, N.C. (AP) _ Bojangles Inc. (BOJA) on Tuesday reported fourth-quarter net income of $9.8 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 26 cents. Earnings, adjusted for non-recurring costs, were 28 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.

The chicken and biscuits restaurant operator posted revenue of $139.4 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $140.4 million.

For the year, the company reported profit of $37.7 million, or $1 per share. Revenue was reported as $531.9 million.

Bojangles expects full-year earnings in the range of 87 cents to 93 cents per share, with revenue in the range of $560 million to $569 million.

Bojangles shares have risen nearly 6 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $19.75, a climb of 28 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BOJA at https://www.zacks.com/ap/BOJA

_____

Keywords: Bojangles, Earnings Report