Panera Bread Q1 Profit Rises 48%

Panera Bread earned $25.8m, or 82 cents a share in the first quarter, up from $17.4m, or 57 cents a share a year earlier.

This equates to a 48% quarterly profit increase for the US food producer.

Its revenue grew 14% to $364.2m in the quarter ended 30 March 2010, the company said.

The 44% year-over-year increase in the first quarter of 2010 diluted EPS comes on top of a 39% increase in year-over-year diluted EPS in the first quarter of 2009.

Panera said it anticipates earning 81 to 83 cents a share for the second quarter.