Wendy’s Q1 Income From Continuing Operations Down

Restaurant operator Wendy’s International has reported income from continuing operations of $4.1 million for the first quarter of 2008, compared to $14.5 million for the first quarter of 2007.

Diluted earnings per share (EPS) from continuing operations of $0.05 compared to $0.15 per share for the first quarter of 2007, and earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations of $42.8 million compared to $57 million for the first quarter of 2007.

For the first quarter of 2008, adjusted diluted EPS from continuing operations of $0.10 compared to $0.16 per share for the first quarter of 2007, and adjusted EBITDA from continuing operations of $49.7 million compared to $58 million for the first quarter of 2007.

Kerrii Anderson, president and CEO of Wendy’s, said: “We are not satisfied with first quarter results. We know we must do better and we are focused on driving sales and performance in future quarters. We recently launched several high-quality products and introduced compelling, new advertising, as we continue to execute many elements of our strategic plan.”