Carrols Restaurant Group posts full-year sales above estimates
Carrols Restaurant Group, Inc. (Nasdaq: TAST), owner and operator of quick-service and quick-casual restaurants that is the parent of Carrols Corp., this morning reported that preliminary full year 2007 revenues above analysts’ estimates.
For the year ended Dec. 31, 2007, the small cap booked revenues of approximately $789, above the $787.28 million six analysts polled by Thomson Financial were on average forecasting. The company had sales of $751.07 million in 2006.
Comparable restaurant sales increased 1.4% for Pollo Tropical, 0.2% for Taco Cabana and 4.6% for its Burger King restaurants.
Comparable restaurant sales in the fourth quarter of 2007 were 2% for Pollo Tropical, 0.9% for Taco Cabana and 4.6% for the company’s Burger King restaurants.
Based on preliminary revenue results, the company reiterated its previous earnings guidance of earnings per share in the range of $0.73 to $0.78.
Shares of Carrols Restaurant Group (TAST) were halted in pre-market.
About the Author
Reporter Jennifer Schonberger is based in SmallCapInvestor.com's Washington, D.C. bureau.
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