DUBLIN, Ohio (AP) -- Wendy's fourth-quarter net income rose 25%, bolstered by a drop in expenses.
While earnings topped Wall Street expectations, sales were under some pressure and revenue fell short.
For the three months ended Dec. 29, the restaurant operator earned $33.1 million, or $0.08 per share. That's up from $26.4 million, or $0.07 per share, a year ago.
Stripping out impairment charges and other items, earnings were $0.11 per share, or $0.02 better than analyst projections, according to a poll by FactSet.
Costs and expenses declined to $563.5 million from $597.6 million. Interest expense dropped to $13.5 million from $20.8 million.
Revenue fell 6% to $592.4 million from $629.9 million, short of Wall Street's forecast of $593.4 million.
Full-year net income grew more than sixfold to $45.5 million, or $0.11 per share, from $7.1 million, or $0.02 per share, in the previous year.
Adjusted earnings were $0.30 per share.
Annual revenue dipped 1% to $2.49 billion from $2.51 billion.
In North America, sales at company-run restaurants open at least a year rose 1.9%.
Wendy's Co. reaffirmed its forecast for 2014 adjusted earnings between $0.34 and $0.36 per share. Analysts expect earnings of $0.33 per share.
The company also maintained its long-term outlook for a mid-teens increase in adjusted earnings per share.
