Bojangles' Profit Falls On Expenses

(RTTNews) - Bojangles' Inc (BOJA), a quick-service restaurants chain, on Thursday reported first-quarter net earnings of $3.4 million compared with $5 million last year.

Pro forma earnings per share for the quarter were $0.09 compared with $0.13 a year ago.

Adjusted pro forma earnings per share were $0.17 versus $0.14 in the prior year.

Meanwhile the company's revenues for the quarter rose to $114.6 million from $96.2 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.15 per share on revenues of $114.5 million for the quarter. Analysts' estimates typically exclude special items.

System-wide comparable restaurant sales increased 7.9% in the quarter, the company said.

Operating expenses rose to $93.6 million from $78.4 million last year.

For the full year 2015, the company expects revenues of $480 million to $487 million, while analysts expect $486.6 million.