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McDonald's hits 4Q mark
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January 24, 2002: 9:03 a.m. ET
Fast-food chain sees profits slip slightly on better-than-expected revenue rise.
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NEW YORK (CNN/Money) - McDonald's Corp. saw slightly lower fourth-quarter earnings that met Wall Street's expectations for the period.
The world's largest fast-food chain earned $443 million, or 34 cents a share, in the period, excluding special items, in line with forecasts of analysts surveyed by earnings tracker First Call as well as the earnings per share a year ago, before the company repurchased $1.1 billion in stock.
Including special charges the company posted net income of $271.9 million, or 21 cents a share, in the quarter, down from the net income of $452 million, or 34 cents a share, it posted in the year-earlier period, when there were no special charges.
Shares of McDonald's (MCD: down $0.30 to $27.10, Research, Estimates), a component of the Dow Jones industrial average, were slightly lower in early trading Thursday.
The company repeated its earlier guidance that it expects earnings per share of between $1.47 and $1.54 for 2002, a range that includes the First Call forecast of $1.49.
Revenue at the company rose 6 percent to $3.77 billion from $3.59 billion a year earlier. First Call's revenue forecast was for $3.70 billion in the period. The company said revenue would have been up 8 percent without a change in currency exchange rates.
Systemwide sales, which include sales at franchise-owned restaurants, increased 2 percent to $10.1 billion from $9.9 billion a year earlier. Sales would have been up 3 percent on a constant currency basis. 
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