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National Financial News

2 min read
Opinions expressed by Entrepreneur contributors are their own.

Eatontown, New Jersey-New World Coffee-Manhattan Bagel Inc. reported net income of $6 million for the fiscal year ended December 31, 2000, an increase of 175 percent compared to $2.4 million in fiscal 1999. -New World Coffee-Manhattan Bagel Inc.

Memphis-Back Yard Burgers announced results for the first quarter of 2001, increasing total revenues 8.5 percent to $7.1 million. The increase is the result of improvements in same-store sales as well as additional franchise fee income from the opening of five franchises in the first quarter of 2001, compared with three in the same period last year. -Business Wire

Austin, Texas-Schlotzsky's Inc. announced systemwide sales results for the quarter ended March 2001, reporting same-store sales increased 2.6 percent over the first quarter 2000. Systemwide sales for the quarter rose to $107.2 million, a 2.8 percent increase over the quarter ended March 2000. -Business Wire

Anaheim, California-CKE Restaurants, the operator of Hardee's and Carl's Jr. restaurants, said its fiscal fourth-quarter pro forma loss was $19.2 million, or 38 cents a share, compared with a loss of $12.5 million, or 25 cents a share, in the same period a year ago. The company said its total revenue dropped 25.5 percent to $354.2 million from $475.5 million a year earlier. -Reuters

Oak Brook, Illinois-McDonald's reported a 16 percent drop in first-quarter earnings, meeting lowered estimates, as sales of hamburgers in Europe continued to flag following outbreaks of animal diseases. The restaurant operator had net income of $378.3 million, or 29 cents a share, compared to $450.9 million, or 33 cents, a year ago. -Reuters