Wendy's International Inc, the international chain of fast food restaurants founded by Dave Thomas in 1969 in Columbus, Ohio, reported a disappointing quarterly profit on Monday although the company had made efforts to cut costs. The profit report sent Wendy’s shares down more than 3 percent in early trading.

The net profit of the food chain was $14.1 million, or 16 cents per share, compared with $3 million, or 3 cents per share, a year earlier.

Without taking restructuring and other charges in consideration, the company earned $18.4 million, or 21 cents a share. Analysts forecasted 23 cents a share on that basis, according to Reuters Estimates.

Last month, a committee examined Wendy’s options, including a possible sale or recapitalization, and its members said they are in the final stages of the review process. The process took longer than expected mainly because the continuing turmoil in the financial markets.

The weakening credit markets have also made Wendy's buying out less probable.
 
In the fourth quarter of the fiscal year that ended December 30, total quarterly sales decreased to $596 million. Same-store sales in U.S. climbed 0.2 percent, while at its company-owned outlets; same-store sales slipped 0.8 percent, both down from the prior-year period as reported earlier.

Wendy’s, the third largest hamburger fast food chain with approximately 6,700 locations after McDonald's (31,000 locations) and Burger King (11,200 locations), saved approximately $20 million in costs as it tightened its general, administrative and operating expenses.