Fogo de Chao beats 4Q profit forecasts

DALLAS (AP) _ Fogo de Chao Inc. (FOGO) on Thursday reported fourth-quarter earnings of $15.6 million.

The Dallas-based company said it had net income of 54 cents per share. Earnings, adjusted for pretax gains, came to 31 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The steakhouse chain operator posted revenue of $88.8 million in the period.

For the year, the company reported profit of $28.8 million, or $1 per share. Revenue was reported as $314.4 million.

Fogo de Chao shares have climbed 35 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.65, an increase of 14 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FOGO at https://www.zacks.com/ap/FOGO