McDonald’s Corporation (MCD) reported robust fourth-quarter 2009 results driven by effective cost control, value offerings and premium products, and a rise in comparable-store sales across all regions.

McDonald’s quarterly earnings of $1.03 per share, excluding one-time items, surged 18% from 87 cents posted in the prior-year quarter, and outdid the Zacks Consensus Estimate by a penny. On a reported basis Incorporatedluding one-time items, earnings came in at $1.11 per share, up 28% from year-ago quarter.

The company’s shares were up 13 cents, or 0.21%, to $63.33 in pre-market trading.

The world’s largest hamburger chain, McDonald’s said that revenue for the quarter climbed 7% to $5,973.4 million; and increased 2% in constant currencies reflecting positive comparable-store sales and expansion, partially offset by the impact of the refranchising strategy in certain major markets.

Revenue from company-operated restaurants rose 5% to $4,030 million, whereas revenue from franchise-operated restaurants jumped 14% to $1,943.4 million. Total operating income soared 22% to $1,826.3 million, and increased 14% in constant currencies.

Despite a sinking global economy, McDonald’s continues to grow same-store sales while maintaining healthy margins by expanding market share. Global comparable-store sales rose 2.3% during the quarter with U.S. sales up 0.1%, Europe up 4.8% and Asia/Pacific, Middle East and Africa (APMEA) up 1.5%. Management hinted that global comps in January 2010 remain positive.

The new menu products Incorporatedluding Angus Third Pounders and McCafe premium coffee, boosted U.S. comps and operating income (up 5%). McDonald’s also began offering $1 breakfast menu to curb falling sales as rising unemployment lowered the restaurant traffic during morning hours.

In Europe and the U.K., France and Russia led operating income growth of 20%. The premium product innovation, daypart extension and restaurant re-imaging program continued to drive market share gains. In APMEA, operating income jumped 51% led by Australia and China, and lower commodity prices.

Total company-operated restaurant margins for the quarter expanded 160 basis points to 18.8%. Restaurant margins increased 150 basis points to 20.3% in the U.S., 130 basis points to 19.2% in Europe, 260 basis points to 17.1% in APMEA, and 220 basis points to 15.8% in Other Countries (Canada and Latin America).

McDonald’s and other fast-food chains, like Burger King Holdings (BKC), Yum! Brands (YUM) and Chipotle Mexican Grill (CMG) are faring better than casual and upscale dining restaurants, as budget-constrained consumers are trending towards lower-priced dining options.

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