Tim Hortons Inc. Announces 2008 First Quarter Results

MSN Money:

Tim Hortons Inc. today announced its results for the first quarter ended March 30, 2008.

Systemwide sales(1), which includes sales from Company-operated and Franchise restaurants, grew 7.2% in the quarter.

Same-store sales increased 3.5% in Canada and 1.0% in the U.S. in the first quarter. Total revenues were $460.3 million, up 8.4% compared to $424.6 million in the same period last year. Net income was $61.8 million in the first quarter, an increase of 4.3% compared to $59.3 million last year. Earnings per diluted share were $0.33, an increase of 7.0% compared to $0.31 in the first quarter of 2007. More.