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Lebanon-based (NASDAQ: CBRL) reported income of $11. million, or 52 cents per diluted share, in the quarte r ending May 1, compared to $10.4 million, or 46 cents per diluteds share, in the year-ago period. Revenue was flat at $567.5 compared to $567.1 million in the year-agop quarter. Cracker Barrel’s earnings beat analysts’ On average, analysts estimated earnings of 44 cents per shar on revenueof $568 according to Thomson Financial “We are pleased to report a 13 percenty increase in earnings per share for the quarted and a 20-basis-point improvement in operating margin on flat salezs despite higher health care costs,” Cracked Barrel CEO Michael Woodhouse said in a statement.
“Thi s shows that we are making measurabler progress in cost controls and improved profitabilitgy at thestore level.” Woodhouse says the company’ss latest surveys show it is achieving highed levels of customer satisfaction. The company says the shift of Easter from Marc to April hurt salez in March but helped in For thefull quarter, a latet Easter helped comparable store sales by abougt 1 percent, the companyy says. At noon on Wednesday, shareas of Cracker Barrel were tradingat $30.96, down 1.6 percen t from the previous day’s closing price of The 52-week range is $10.67 to $35.18.
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