San Francisco, Aug. 5 - Wendy's International Inc, which is being bought by Arby's parent Triarc Cos Inc for around $2 billion, posted a bigger-than-expected decline in quarterly profit on Tuesday after merger and restructuring charges.
Shares in Wendy's fell about 2 percent after the news, reversing about half of their regular session gains.
The third-biggest U.S. hamburger chain reported second-quarter net income from continuing operations of $19.9 million, or 22 cents per share, compared with net income of $29.3 million, or 33 cents per share, in the year-earlier quarter.
Excluding 2008 and 2007 expenses related to restructuring and the Special Committee that handled the company's sale, Wendy's profit was 30 cents. That missed Wall Street's average estimate of 37 cents, according to Reuters Estimates.
Revenue for the quarter fell to $631.9 million from $632.9 million a year ago.
Shares in Wendy's fell to $23.62 in extended trade from their close of $24.20 on the Nasdaq, where they had gained more than 5 percent during regular trading.