Triarc boosts 3rd-Q net, revs on year-ago RTM purchase

Nation's Restaurant News,  Nov 27, 2006  

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NEW YORK -- Triarc Cos. Inc., operator or franchisor of the 3,500-unit Arby's sandwich chain, said its restaurant segment operating profit increased to $25.7 million in the third quarter ended Oct. 1, versus an operating profit of $5.2 million in the year-ago quarter. Segment revenues rose 29.5 percent to $294.1 million.

The July 2005 acquisition of RTM Restaurant Group, the former owner of 775 Arby's units, helped boost corporate sales this year and also accounted for a $17 million loss in the fiscal 2005 quarter from a settlement related to franchise royalties. Same-store sales at corporate Arby's restaurants increased 2 percent for the latest quarter and rose 6 percent at franchised units.

Triarc, which also owns the $14.1 billion asset management firm Deerfield, recorded third-quarter net income of $500,000, or 1 cent per share, versus a year-ago net loss of $42.5 million, or 58 cents a share. Consolidated corporate revenues rose 29.7 percent to $311.9 million.

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