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Business Description
Wendy's International, Inc. is primarily engaged in the business of operating, developing and franchising a system of quick-service restaurants. At December 30, 2001, there were 6,043 Wendy's restaurants (Wendy's) in operation in the United States and in 26 other countries and territories. Of these restaurants, 1,228 were operated by the Company and 4,815 by its franchisees. In addition, at December 30, 2001, Wendy's International and its franchisees operated 2,163 Tim Hortons (Hortons) restaurants in Canada and the United States. Of these restaurants open, at December 30, 2001, only 97 were Company operated.

Financial Information
Wendy's operates, develops and franchises a system of quick-service restaurants. At 12/00, the Co. operated 1,228 and franchised 4,815 Wendy's restaurants, and operated 2,163 Tim Horton's restaurants. For the 26 weeks ended 6/30/02, revenues rose 11% to $1.3 billion. Net income rose 13% to $107.2 million. Revenues reflect increased sales at domestic and international Wendy's. Net income reflects improved operating performance at the Tim Hortons restaurants.