As the nation's sagging economy makes gainers of some restaurant companies and losers of others, Dallas-based Brinker International Inc. finds itself in both camps.

The higher food costs and lower consumer confidence affecting the restaurant industry were blamed in part for last week's bankruptcy filing of a competitor, the parent of Plano-based Bennigan's Grill and Tavern. That move shuttered more than 100 restaurants that went head to head with Brinker's flagship, Chili's Grill & Bar.

Diners may see more chains go away, Doug Brooks, Brinker's chairman and chief executive, said in a conference call Tuesday.

In the same call, Brinker executives acknowledged that they have been unable to sell outright their Italian-themed Macaroni Grill. Brinker announced plans to sell the chain last year but later said suitors were having trouble arranging financing.

On Tuesday, as Brinker reported a 49 percent drop in its fourth-quarter earnings, the company said it will retain an interest of less than 20 percent in Macaroni Grill to get the deal done.

The company also said it will take a pre-tax charge of up to $60 million as it writes down the value of its investment in the brand.

Still, Brinker shares gained nearly 8 percent for the day, closing at $19.57, as investors reacted to the 3.4 percent gain in Chili's same-store sales for the quarter – growth that came as other casual dining restaurants have staggered.

"We expect Chili's [same-store sales] to remain positive, and the Macaroni Grill sale, while lower than projected, removes a major uncertainty and distraction," stock analyst William W. Hamilton of Houston-based SMH Capital said in a note to investors.

For the quarter ended June 25, Brinker reported net income of $42.6 million, or 41 cents a share, down from $83.6 million, or 71 cents, a year ago.

Excluding one-time items and the impact of Macaroni Grill, earnings per share dropped 14 percent to 42 cents, in line with estimates from analysts surveyed by Thomson Financial.