Burger King Holdings posted a quarterly loss today in its first report as a stand-alone public company.
Burger King said it lost $9 million, or seven cents per share, in its fiscal fourth quarter ended June 30th, compared with a profit of $2 million, or two cents per share, a year earlier.
But the world's second-largest hamburger chain also said it expects to benefit from customers choosing lower-priced restaurants in a tough economic climate.
The latest quarter included a one-time management termination fee of $30 million, related to the company's initial public offering, and other charges related to its restructuring.
Revenue rose 6 per cent to $533 million. By comparison, McDonald's revenue rose 9 per cent to $5.57 billion in its latest quarter.
Burger King has more than 11,100 restaurants worldwide, and about 90 per cent of those are owned and operated by franchisees. McDonald's has 13,700 restaurants in the United States alone, and more than 30,000 overall.
Burger King said that it plans to open more than 430 restaurants in fiscal 2007, with 250 of those Europe, the Middle East and Asia Pacific.
Shares of Burger King have fallen since pricing at $17 a share in an initial public offering in mid-May.