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Earnings Analysis: 
P.F. Chang's Quarterly Net Profit Declines
Author: 123jump.com Staff
123jump.com
Last Update: 12:48 PM EST February 13 2008



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P.F. Chang''s China Bistro reported a decline in quarterly net profit after charges that offset the effect of the higher revenue. The most recent quarter numbers included 8 cents per share charge tied to the assets of the company’s Taneko Japanese Tavern Restaurant, which P.F. Chang''s has agreed to sell.

 
PF Chang''s (PFCB: chart) reported income from continuing operations per diluted share for the fourth quarter of fiscal 2007 was $0.37 compared to $0.35 for the fourth quarter of the prior year.

Net income per diluted share was $0.28 compared to $0.34 in the prior year. The primary driver of the decline in net income per diluted share was the $0.08 asset impairment charge.

Consolidated income from continuing operations of $9.3 million for the fourth quarter ended December 30, 2007 compared to $9 million for the fourth quarter of the prior year.

Net income for the fourth quarter of fiscal 2007 totaled $7 million compared to $8.8 million a year ago after including discontinued operations related Taneko, Japanese restaurant concept.
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