Carrols Restaurant: 4Q Earnings Snapshot
SYRACUSE, N.Y. (AP) _ Carrols Restaurant Group Inc. (TAST) on Tuesday reported a fourth-quarter loss of $9.9 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Syracuse, New York-based company said it had a loss of 20 cents. Losses, adjusted for one-time gains and costs, came to 12 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The restaurant operator posted revenue of $397.6 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $398.8 million.
For the year, the company reported a loss of $31.9 million, or 74 cents per share, swinging to a loss in the period. Revenue was reported as $1.46 billion.
Carrols Restaurant shares have decreased 27% since the beginning of the year. The stock has declined 54% in the last 12 months.