Denny's: Q1 Earnings Snapshot

SPARTANBURG, S.C. (AP) _ Denny's Corp. (DENN) on Tuesday reported first-quarter net income of $23.2 million.

The Spartanburg, South Carolina-based company said it had net income of 35 cents per share. Earnings, adjusted for non-recurring gains, came to 1 cent per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The restaurant operator posted revenue of $80.6 million in the period, which beat Street forecasts. Five analysts surveyed by Zacks expected $79.3 million.

Denny's shares have climbed 29% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $18.96, a rise of 93% in the last 12 months.


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