News

4Q net income quadruples at Taco Cabana parent

March 1, 2007

Syracuse, N.Y. — Carrols Restaurant Group Inc., which operates the Pollo Tropical and Taco Cabana restaurant brands and is the largest Burger King franchisee, saw a comparable restaurant-sales increase at two of its brands, and fall slightly at the third for the 2006 fourth quarter ended Dec. 31.

Fourth-quarter comps increased 7.9 percent at Carrols' Burger King restaurants and 4.9 percent at its Pollo Tropical restaurants, while decreasing 0.6 percent at the company's Taco Cabana brand.

For the year, comps increased 4.2 percent at Burger King, 3.2 percent at Pollo Tropical and 1.7 percent at Taco Cabana.

Revenues for the fourth quarter increased 8 percent to $188.7 million, up from $174.3 million in the fourth quarter of 2005.

For the year, revenue increased 6 percent to $751.4 million.

Carrols' net income increased to $3.7 million in the fourth quarter from $0.9 million in the same period last year. For the year, net income increased to $13.4 million compared with a loss of $4.4 million in 2005.