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Popeyes tops Street 4Q forecasts

ATLANTA (AP) _ Popeyes Louisiana Kitchen Inc. (PLKI) on Wednesday reported fourth-quarter net income of $9.2 million.

On a per-share basis, the Atlanta-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring costs, came to 48 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.

The fast-food chicken chain posted revenue of $61 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $60.9 million.

For the year, the company reported profit of $42.8 million, or $1.98 per share. Revenue was reported as $268.9 million.

Popeyes shares have climbed 31 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $79.02, an increase of 31 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 PLKI at https://www.zacks.com/ap/PLKI

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Keywords: Popeyes, Earnings Report