OAK BROOK, ILL. — McDonald’s Corp. ended its year on a strong note, with income and revenue up significantly.
Net income for the year ended Dec. 31 totaled $3,544,200,000, equal to $2.83 per share on the common stock, up 36% from $2,602,200,000, or $2.04, in 2005. Net revenues for the year were up 9%, totaling $21,586,400,000, a record high for the company.
Net income for the fourth quarter ended Dec. 31 more than doubled, totaling $1,241,500,000, equal to $1 per share on the common stock, compared with net income of $608,500,000, or 48c, in the same period last year. The period included $480.3 million, or 39c, of income from discontinued operations, primarily related to a gain on the disposal of the Chipotle Mexican Grill investment.
Net revenues for the quarter were $5,633,900,000, an increase of 11% from $5,061,200,000 in the fourth quarter of 2005.
Jim Skinner, president and chief executive officer of McDonald’s, has credited the company’s strategy of consistently providing new items, premium products and value on its menu for the company’s continued success. It is a formula the company will continue to follow in the new fiscal year.
"Our convenient locations and commitment to operations excellence position us to maximize the opportunities in the global marketplace," Mr. Skinner said. "As we begin the new year, we will continue to leverage our strengths by delivering a relevant restaurant experience that resonates with customers and enhances brand loyalty."