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CEC Entertainment Sales Rise

Earnings top estimates.
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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.