CEC Entertainment Sales Rise
Earnings top estimates.
CEC Entertainment
(CEC)
advanced after the parent company of the Chuck E. Cheese pizza chain surpassed analysts' first-quarter earnings expectations.
Revenue increased to $227 million from $214.1 million a year ago. Earnings in the first quarter totaled $29.2 million, or 85 cents a share, compared with $31.3 million and 84 cents a share last year. Analysts were looking for earnings of 83 cents a share in the 2006 quarter.
CEC reported its results after the market closed Tuesday.
The company said it expects earnings to range from 37 cents to 39 cents a share for the second quarter and from $1.94 to $2.02 a share for the year.
Shares of CEC gained $2.16, or 6.5%, to $35.56 in recent trading.
