CKE Restaurants, Inc. (NYSE:CKR) has announced the release of its third quarter earnings for fiscal 2010. The company reported a company operated restaurant level margin increase of 18.1% despite an 80 basis point increase in depreciation costs attributed to recent remodeling activities. It’s operating income was $16.3 million, compared to $17.8 million earned during the same period of the previous year.
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The full financial release may be obtained on the company’s website, http://www.ckr.com/. A webcast is also available for review regarding the financial results. Both the release and the webcast will be on the investors portion of the site.
CKE Restaurants, Inc. (CKE) owns, operates, franchises or licenses 3,116 quick-service restaurants, which are referred to in the Company’s industry as QSRs, primarily under the brand names Carl’s Jr. and Hardee’s. Carl’s Jr. restaurants are primarily located in the Western United States. The Hardee’s restaurants are located in the Southeastern and Midwestern United States. During the fiscal year ended January 26, 2009 (fiscal 2009), CKE opened seven company operated restaurants, acquired 37 restaurants from franchisees, sold 102 restaurants to franchisees and closed 20 restaurants.
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