Applebee's ( APPB) after the bell Wednesday reported third-quarter earnings below Wall Street's expectations and cut its full-year outlook. The company posted net income of $22.1 million, or 28 cents a share, for the third quarter ended Sept. 25, down from $28.6 million, or 34 cents a share, a year ago. Excluding items, the company earned $24.6 million, or 31 cents a share, missing analysts' estimate of 33 cents a share. The casual-dining restaurant operator said revenue rose to $305.3 million from $281.1 million last year. Analysts polled by Thomson First Call expected revenue of $312.4 million. Systemwide same-store sales rose 0.9%. "We are clearly disappointed with our results over the past several months, and are focused on improving the things that are within our control to make Applebee's more appealing in the current consumer, said Lloyd L. Hill, chairman and chief executive, in a statement. For the fourth quarter, the company expects to earn 25 cents to 29 cents a share, below Wall Street's forecast of 30 cents a share. Applebee's cut its full-year earnings projection to $1.28 to $1.32 a share, before items, from an already lowered prior target of $1.33 to $1.40. The stock was down $1.24, or 5.7%, to $20.70 in after-hours trading. Biogen Idec ( BIIB) posted-third-quarter earnings of $27.1 million, or 8 cents, down from $36.8 million, or 10 cents a share, a year ago. Excluding items, the company earned $122 million, or 36 cents a share, below analysts' estimate of 42 cents. The biotech firm said revenue rose to $596 million from $543 million last year, short of Wall Street's estimate of $620.9 million. The stock was down $1.51, or 3.7%, to $38.50 after hours. LSI Logic ( LSI) reported a loss of $73 million, or 19 cents a share, for the third, compared with a loss of $282 million, or 73 cents a share, a year ago. The latest results include a $91 million restructuring charge associated with a planned sale of manufacturing facility. Excluding charges, the company earned $45 million, or 11 cents a share. The chipmaker said revenue for the quarter rose 27% to $482 million from $380 million last year. Analysts expected a profit of 11 cents a share on revenue of $489.5 million. For the fourth quarter the company expects revenue in the range of $475 million to $500 million, below Wall Street's estimate of $507.3 million. The stock was down 51 cents, or 6.1%, to $7.85 in after-hours trading.