P.F. Chang's 2nd-quarter profit rises

P.F. Chang's China Bistro Inc., which operates Asian-themed restaurants, said Wednesday second-quarter profit rose, topping Wall Street expectations as sales advanced nearly 14 percent.

Profit rose to $9.4 billion, or 39 cents per share, from $9.3 billion, or 36 cents per share, a year earlier, as the company focused on improving operating margins and lowering general and administrative costs.

Sales jumped to $304.1 million from $266.8 million a year earlier.

Analysts polled by Thomson Financial expected profit of 32 cents per share on sales of $307.4 million, on average.

Same-store sales declined 3.2 percent at the company's Pei Wei Asian Diner segment, as fewer customers visited its locations. Same-store sales at the unit declined in April, May and June.

Same-store sales also declined 2.3 percent at the company's P.F. Chang's China Bistro restaurants.

"Revenues at both concepts for the second quarter were slightly below our expectations and we continue to believe that consumers will remain under economic pressure for the rest of the year," Chief Executive Rick Federico said in a statement.