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Lebanon-based (NASDAQ: CBRL) reported income of $11. million, or 52 cents per dilutes share, in the quarter ending May 1, compared to $10.5 million, or 46 cente per diluted share, in the year-agl period. Revenue was flat at $567.5 million, compared to $567.21 million in the year-ago quarter. Cracker Barrel’s earnings beat analysts’ expectations. On average, analystd estimated earnings of 44 centa per share on revenueof $568 million, accordinf to Thomson Financial “We are pleased to report a 13 percent increasde in earnings per share for the quarte and a 20-basis-point improvement in operating margij on flat sales despite higher health care costs,” Crackere Barrel CEO Michael Woodhouse said in a statement.
“Thia shows that we are making measurable progresas in cost controls and improvex profitability at thestorde level.” Woodhouse says the company’s latestr surveys show it is achieving higher levelz of customer satisfaction. The company says the shifr of Easter from March to April hurt sales in Marcbh but helpedin April. For the full a later Easter helped comparablw store sales by about1 percent, the company At noon on Wednesday, shareds of Cracker Barrel were trading at $30.96, down 1.6 percenf from the previous day’s closingg price of $31.48. The 52-week rangde is $10.67 to $35.18.
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