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Fiesta Restaurant Group posts 4Q profit

ADDISON, Texas (AP) _ Fiesta Restaurant Group Inc. (FRGI) on Monday reported fourth-quarter profit of $2.4 million.

The Addison, Texas-based company said it had net income of 9 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were 27 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 27 cents per share.

The owner of Pollo Tropical and Taco Cabana restaurants posted revenue of $171.3 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $176.3 million.

For the year, the company reported profit of $16.7 million, or 62 cents per share. Revenue was reported as $711.8 million.

Fiesta Restaurant Group shares have fallen 13 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $25.95, a drop of 26 percent in the last 12 months.

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

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Keywords: Fiesta Restaurant Group, Earnings Report