SPARTANBURG, S.C. ( TheStreet) -- Denny's ( DENN) and Bob Evans ( BOBE) shares fell sharply Wednesday while P.F. Chang's China Bistro ( PFCB) gained following mixed earnings results from the trio of restaurant operators. Denny's and Bob Evans missed profit expectations. P.F. Chang's posted weaker-than-expected revenue but topped earnings expectations and increased its dividend .
Denny's posted an 84.9% drop in fourth-quarter earnings to $2.7 million, or 3 cents per share, down from a year-earlier profit of $17.9 million, or 18 cents per share. Revenue fell 3.3% to $135.9 million. Analysts had expected the casual dining chain to earn 8 cents per share, on revenue of $142.9 million. Denny's attributed its weakened results to higher costs , and said poor weather across the U.S. accounted for a decline in same-store customer counts.
Denny's said operating margins fell to 12.3% last quarter on rising overhead costs. Comparable same-store sales -- or sales at stores open at least one year, a closely watched metric in the restaurant industry -- fell 1.6% at company-owned stores and 1.4% at franchised locations.