Brinker Int'l cuts 2005 profit view
2004-08-11
Brinker International Inc. (NYSE:EAT) on Wednesday cut its fiscal 2005 profit forecast, citing worse sales trends than expected, even as it wrapped up fiscal 2004 with a 60 percent increase in fourth-quarter profit.
The owner of the Chili's, Maggiano's, On the Border and Macaroni Grill chains said it now expects 2005 earnings of $2.18 to $2.30 a share, down from its forecast of $2.28 to $2.38 that it made in June .
The June forecast was below analysts' expectations at the time and analysts have since lowered their forecasts to an average of $2.33 a share, according to Reuters Estimates.
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