Earnings per share for the fourth quarter of 2006 were $0.29 and included a net charge of $0.23 per share primarily related to a non-cash impairment charge at Coca-Cola Enterprises Inc., an equity investee.
Earnings per share for the year were $2.57, an increase of 19% versus the prior year on a reported basis, and $2.70 after considering items impacting comparability, an increase of 14%. Earnings per share for the year included a net charge of $0.13 per share primarily related to restructuring charges and asset write-downs.
Full year 2006 earnings per share were $2.16 and included a net charge of $0.21 per share primarily related to a non-cash impairment charge at CCE.
Unit case volume increased 5 percent in the quarter and 6 percent for the year. Acquisitions contributed 1 point of unit case volume growth for the quarter and year. International operations delivered 7 percent unit case volume growth in the quarter and 8 percent growth for the year, reflecting broad-based growth across all groups.
The Company continued to deliver strong growth in sparkling beverages, which increased unit case volume 4% in the quarter and for the year. Key brands drove the results with Coca-Cola growing unit case volume 3% in the quarter and 4% for the year. Brand Fanta increased unit case volume 4% for the quarter and 5% for the year, and Trademark Sprite increased unit case volume 4% in the quarter and 8% for the year.
Still beverage unit case volume increased 11% in the quarter and 12% for the year. Trademarks Dasani and Powerade continued their strong performance, each increasing unit case volume 9% in the quarter and 10% for the year.
PF Chang’s earnings edges higher
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 $9.0 million for the fourth quarter of the prior year. Net income for the fourth quarter of fiscal 2007 totaled $7.0 million compared to $8.8 million a year ago after including discontinued operations related Taneko, Japanese restaurant concept.