initial public offerings (IPOs) trading on American exchanges

Saturday, June 13, 2015

Bojangles (BOJA) reported first earnings since IPO

Charlotte-based chicken-and-biscuit chain Bojangles reported first quarter earnings per share of 17c, beating analysts' expectations of 15c, on revenue that increased 19.2% from the year ago quarter to $114.6M, which was also higher than analysts' estimates of $114.48M. The restaurant chain, which opened 16 new restaurants during the quarter, saw its system-wide comparable restaurant sales increase 7.9% compared to the first quarter of 2014. For fiscal year 2015, the company expects to report revenue of between $480M-$487M. Analysts were forecasting revenue of $486.6M. Bojangles guided for FY15 system-wide comparable restaurant sales growth of low to mid-single digits. In FY15, the company expects the opening of 50-57 system-wide restaurants, consisting of 22-25 new company-operated restaurants and 28-32 new franchised restaurants. Operating income for the chain decreased 7.2% to $9.5M in Q1 down from $10.2M in the year-ago quarter primarily due to a $2.7M increase in costs related to its initial public offering.

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