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Panera profit rises 34 percent as customers pay up

Published on NewsOK Modified: February 5, 2013 at 3:47 pm •  Published: February 5, 2013
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Fourth-quarter net income came to $51.6 million, or $1.75 per share, just above Wall Street's estimate of $1.74. That's up from $38.6 million, or $1.31 per share, the year before.

Revenue rose 15 percent to $571.6 million, beating expectations of analysts polled by FactSet of $567.4 million. Costs rose 13 percent to $488.2 million. Like other companies in the food industry, Panera has had to deal with higher costs for ingredients and materials.

For the current quarter, Panera expects profit of $1.62 to $1.66 per share. That depends on revenue in stores open at least a year growing 4 to 5 percent. So far in the quarter, that metric is up 3.9 percent.

Analysts expected profit of $1.62 per share in the first quarter.