After a difficult few months in which the price of buffalo wings affected finances, Buffalo Wild Wings Inc. seems to have found its way with boneless wings. The restaurant chain announced much better profit than expected in a third-quarter earnings report released Wednesday afternoon, despite revenue coming in a bit short of expectations, after announcing in July a focus on the boneless product that costs less. “The recent Tuesday promotion shift from traditional to boneless wings at company-owned restaurants will continue to improve cost of sales while traditional wing prices remain elevated,” Chief Executive Sally Smith said in Wednesday’s announcement, referring to the chain’s popular half-price wing specials on Tuesday. Buffalo Wild Wings reported net income of $18.7 million, or $1.17 a share, on total sales of $496.7 million, up from $494.2 million a year ago. After adjusting for stock-based compensation and other effects, the company claimed earnings of $1.36 a share. Analysts on average expected adjusted earnings of 79 cents a share on revenue of $501 million. The company also increased its forecast for full-year adjusted earnings to a range of $4.85 to $5.15 a share, after previously guiding to $4.50 to $5 a share. Buffalo Wild Wings stock was halted ahead of the announcement, and were expected to resume trading at 4:25 p.m. Eastern.
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