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CKE Restaurants Inc. (CKR) filed Quarterly Report for the period ended 2011-11-07.
. Cke Restaurants Inc. had an annual average earning growth of 2.8% over the past 5 years.
This is the annual revenues and earnings per share of CKR over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of CKR.
Highlight of Business Operations:
Total franchised and licensed restaurants and other revenue increased $517, or 3.9%, to $13,855 during the twelve weeks ended November 7, 2011, as compared to the prior year period. Royalty revenues increased $286, or 3.8%, to $7,813, due primarily to the net increase of 46 franchised and licensed restaurants since the end of the third quarter of fiscal 2011, partially offset by a 2.5% decrease in franchise-operated same-store sales. Franchise fees increased $515 to $655 during the twelve weeks ended November 7, 2011, as compared to the prior year period, due primarily to the opening of new franchised and licensed restaurants. Rent and other occupancy revenues decreased $284, or 5.0%, mainly due to the impact of franchisees entering into lease arrangements directly with landlords and a decrease in contingent rent revenue from franchisees.Total franchised and licensed restaurants revenue decreased $83,978, or 64.8%, to $45,645 during the forty weeks ended November 7, 2011, as compared to the forty weeks ended November 1, 2010. Distribution center sales of food, packaging and supplies to franchisees decreased by $86,891, due to the outsourcing of our Carl’s Jr. distribution center operations on July 2, 2010. This decrease was partially offset by an increase in royalty revenues of $1,521, or 6.1%, due primarily to the net increase of 46 franchised and licensed restaurants since the end of the third quarter of fiscal 2011, partially offset by a 0.8% decrease in franchise-operated same-store sales. Franchise fees increased $928 to $1,637 during the forty weeks ended November 7, 2011, as compared to the prior year period, due primarily to the opening of new franchised and licensed restaurants. Rent and other occupancy revenues increased $464, or 2.7%, mainly due to impact of the amortization of favorable and unfavorable leases, which were recorded in connection with the Merger, partially offset by the impact of franchisees entering into lease arrangements directly with landlords.
Total franchised and licensed restaurants and other revenue increased $432 or 2.0%, to $21,664 during the twelve weeks ended November 7, 2011, as compared to the prior year period. Royalty revenues increased $539, or 4.1%, to $13,753, from the comparable prior year period, due primarily to a net increase of 19 franchised and licensed restaurants since the end of the third quarter of fiscal 2011 and an increase in franchise-operated same-store sales of 1.3%. The decrease in distribution center sales of equipment of $257, or 5.4%, from the comparable prior year period, was primarily due to a decrease in equipment sales to third parties.
Total franchised and licensed restaurants revenue increased $7,968, or 11.8%, to $75,289 during the forty weeks ended November 7, 2011, as compared to the prior year period. Distribution center revenues increased $3,593, or 23.8%, primarily due to an increase in equipment sales to franchisees. Royalty revenues increased by $3,280, or 7.8%, from the comparable prior year period, due primarily to a net increase of 19 franchised and licensed restaurants since the end of the third quarter of fiscal 2011 and an increase in our franchise-operated same-store sales of 3.4%. Rent and other occupancy revenue increased $816, or 8.8%, primarily due to the impact of the amortization of favorable and unfavorable leases, which were recorded in connection with the Merger.
Franchised and licensed operating and other expenses increased $7,180, or 24.2%, to $36,890, during the forty weeks ended November 7, 2011, as compared to the prior year period. Distribution center expenses increased $3,442, or 22.8%, resulting directly from the increase in distribution center sales to franchisees. The increase in administrative expense of $2,414 was primarily due to increased franchise operations and administration costs to support our long-term growth strategy and an increase of $878 in amortization expense related to the franchise agreement intangible asset recorded in connection with the Merger. Rent and other occupancy expense increased $1,324, or 18.2%, due primarily to the impact of the amortization of favorable and unfavorable leases, which were recorded in connection with the Merger.
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