Brinker International Soars on Solid Earnings (EAT, TNC, SAH, OTT, CMG)
Brinker International Inc (NYSE:EAT) jumped up 10.68% to $30.88 after the Company reported third quarter results. Earnings per share were $0.56 versus $0.45 in the third quarter of the prior year. Chili’s comparable restaurant sales increased 4.6% and
Maggiano’s comparable restaurant sales increased 3.9%. The company repurchased approximately 3.1 million shares of its common stock for $82.7 million in the third quarter.
Tennant Company (NYSE:TNC) decreased 13.06% to $41.59 after the Company posted first quarter results. Net earnings were $5.3 million or $0.28 per share compared to net earnings of $5.9 million or $0.30 per share in the prior year period. Net sales were $173.7 million versus net sales of $172.6 million in the prior year period.
Sonic Automotive Inc (NYSE:SAH) declined 6.41% to $16.78 after the Company released first quarter results. Earnings rose 24% to $19.5 million. Earnings from continuing operations per diluted share were $0.33 compared to $0.27 in the prior year quarter. Total first quarter revenues increased 9.3% year over year.
Otelco Inc (USA) (NASDAQ:OTT) slipped 43.56% to $6.79. The Company said that Time Warner Cable Inc doesn’t expect to renew its contract for wholesale network connections. This is one of the major contributors to the revenue. Otelco said its contract with Time Warner represented approximately 12% of the company’s revenue for 2011. The contract expires on December 31 and includes a transition period into 2013.
Chipotle Mexican Grill Inc (NYSE:CMG) slipped 2.01% to $410.83 after the Company released first quarter results. Sales increased 25.8% to $640.6 million compared to the analyst estimate of $627 million. Same-store sales rose 12.7% during the period. Net income was 35.1 million versus $62.7 million or about $1.97 per share. However, analysts were expecting a profit of $1.91 per share. The Company announced expects mid single digit comparable restaurant sales growth for fiscal 2012.