CKE Restaurants Inc, parent of the Carl's Jr and Hardee's fast-food chains, posted a quarterly profit that was in line with market expectations but revenue missed estimates, sending its shares down 9 percent.
Second-quarter net income for the company, known for its oversized hamburgers and provocative advertisements, fell slightly to $12.2 million, or 22 cents a share. In the year-ago quarter, the company had earned $12.3 million, or 23 cents a share. Revenue fell 4.7 percent to $336 million.
Sales at company-owned Carl's Jr stores open at least 13 months were down 6.1 percent, while sales at CKE-owned Hardee's restaurants fell 2.7 percent.
Analysts, on average, were expecting earnings of 22 cents a share, before special items, on revenue of $341 million, according to Reuters Estimates.
Most restaurants have seen sales hit during the recession as consumers look to save money by eating more at home.
Shares of the company were trading down $1.02 at $10.25 after the bell. They closed at $11.27 Wednesday on the New York Stock Exchange. (Reporting by Mihir Dalal in Bangalore, Editing by Saumyadeb Chakrabarty)