(By Salman - iStockAnalyst Writer)

Late on Monday, Carrols Restaurant Group, Inc. (NASDAQ: TAST) announced that its fourth quarter net income rose to $4.37 million or 20 cents a share from $3.52 million or 16 cents a share in the prior year quarter. Revenue grew 1.8% to $200.83 million from $197.25 million. Analysts on average were looking for earnings of 22 cents a share on revenue of $200.73 million for the quarter. Looking ahead to full fiscal year 2009, the company expects to earn in the range of 75 cents a share to 80 cents a share. Analysts currently expect earnings of 65 cents a share for the year. The company also expects total revenue to increase 3% to 4% in 2009.Chairman and Chief Executive Officer Alan Vituli said "We are encouraged by our fourth quarter performance in the face of an unprecedented industry environment. In addition, our heightened focus on cost reduction enabled us to improve overall profitability in the fourth quarter and these actions should provide continuing benefits in 2009. With persistent weakness in consumer spending, and the state of the economy in general, we are keenly focused on effectively managing through these challenging circumstances. Our priorities for 2009 are aggressive and straightforward. In addition to our focus on improving sales and profitability, we intend to further improve our financial strength by maximizing free cash flow, reducing debt and lowering our financial leverage to levels that are appropriate in these times of economic uncertainty. To this end, we have taken actions to reduce corporate overhead, contain operating-level costs, scale-back near-term new unit development and to limit capital expenditures."

Franklin Electric Co. Inc. (NASDAQ: FELE) said that its fourth quarter net income decreased to $3.42 million or 15 cents a share from $5.46 million or 23 cents a share in the same quarter, a year ago. On an adjusted basis the company earned 21 cents a share compared to 29 in the fourth quarter of 2007. Revenue fell slightly to  $152.11 million from $153.74 million. Analysts on average had forecast earnings of 35 cents a share on revenue of $171.38 million for the quarter. Chairman and Chief Executive Scott Trumbull said in a statement "While we were pleased to report significant growth in sales, earnings, and operating margins for the full year 2008, we are mindful of the impact that the global recession had on our business during the fourth quarter."

Hospitality Properties Trust (NYSE: HPT) reported that its fourth quarter net income declined to $47.46 million or 51 cents a share from $75.98 million or 81 cents a share in the comparable quarter in 2007. Income from continuing operations fell to $54.93 million from $83.45 million while Funds from operations or FFO for the quarter slipped to $88.24 million or 94 cents a share, compared to $108.27 million or $1.15 a share in the year-ago quarter. Revenues dropped to $282.14 million from $326.76 million.