Burger King Swings to Profit - TheStreet

Burger King Swings to Profit

It cites a SpongeBob promotion.
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Burger King (BKC) swung to a fiscal third-quarter profit, beating analysts' estimates as same-store sales rose 3.2% from a year ago.

The burger chain made $34 million, or 25 cents a share, for the quarter ended March 31, reversing the year-ago loss of $12 million, or 11 cents a share. Revenue rose 9% from a year earlier to $539 million.

Analysts surveyed by Thomson Financial were looking for a 22-cent profit on sales of $535 million.

CEO John Chidsey said he was "confident" of the company's fourth-quarter outlook. He added, "The current BK Chicken Fries/SpongeBob promotional tie-in is exceeding expectations, and we are excited about promotional tie-ins with

Spider-Man 3

in May and NASCAR BK Racing in June."