CANTON — The operator of Dunkin’ Donuts and Baskin-Robbins said its net income rose 36 percent as revenue from established US locations got a lift from strong beverage and breakfast sandwich sales growth.
But earnings fell short of expectations, and the company will probably hit the low end of its 2013 forecast due to write-downs on investments in Spain.
Dunkin’ Brands Group earned $40.2 million, or 37 cents per share, in the three months ended Sept. 30, up from $29.5 million, or 26 cents, in last year’s quarter.
Adjusted earnings totaled 41 cents per share in the quarter. Analysts surveyed by FactSet expected 43 cents, on average. Revenue rose more than 8 percent to $186.3 million.
Revenue from established US locations climbed 4.2 percent for Dunkin’ Donuts stores and 3.2 percent for Baskin Robbins. But revenue from established international Dunkin’ Donuts locations fell 1.4 percent. Sales from Baskin Robbins international stores grew slightly.
For the year, the company expects to hit the low end of its target for 2013 adjusted earnings of $1.50 per share to $1.53 per share.