Restaurant and retail concept operator Cracker Barrel Old Country Store, Inc. (CBRL) on Tuesday posted smaller-than-expected fiscal first quarter earnings.

The Lebanon, TN-based company reported fiscal first quarter net income of $23.80 million, or $1.03 per share, compared with $23.73 million, or $1.01 per share, in the year-ago period.

On average, Wall Street analysts expected a higher profit of $1.05 per share.

Revenue was almost flat from last year at $598.44 million.

For the full year 2012, CBRL forecast earnings of $4.10 to $4.25 per share, on revenue of $2.55 billion to $2.6 billion. Analysts currently expect $4.21 per share on $2.55 billion in revenue.

Cracker Barrel shares posted small gains in premarket trading Tuesday.

The Bottom Line
Shares of Cracker Barrel (CBRL) have a 2.18% dividend yield, based on last night’s closing stock price of $43.93. The stock has technical support in the $38-$41 price area. If the shares can firm up, we see overhead resistance around the $50 price level.

Cracker Barrel Old Country Store, Inc. (CBRL) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

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