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Bojangles' Earnings Report Show Profit Decrease

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Bojangles' reported earnings of nearly $49 million in the fourth quarter, compared to a little under $10 million during the same period a year ago.  The company's quarterly net income was $8.7 million, compared to $10.6 million a year earlier. 

The earnings report comes one day after the Charlotte-based company announced the departure of president and chief executive Clifton Rutledge.  The company said he resigned for “personal reasons.” 

Bojangles' also said it plans to open 30 to 40 new restaurants in 2018.

Bojangles' shares closed at $12.88 - down from Monday's closing price of $13.75 -  but bumped up to $13.85 at after hours trading.