Noodles & Company Q2 Profit Rises - Quick Facts

(RTTNews) - Noodles & Company (NDLS) reported that its second-quarter net income increased to $3.5 million from $0.1 million, a year ago. Earnings per share was $0.11 for the quarter. Adjusted net income was $3.7 million or $0.12 per share, for the quarter .

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.15 for the quarter. Analysts' estimates typically exclude special items.

Total revenue increased 11.5% to $99.5 million from $89.2 million. The company said the increase was the result of new restaurants opened system-wide since the beginning of the second quarter of 2013, offset by a decrease in sales at comparable base restaurants.

In the second quarter of 2014, comparable restaurant sales decreased 0.6% for company-owned restaurants, 1.2% for franchise restaurants and 0.7% system-wide. Adjusting for the lost operating day due to the shift of the Easter holiday, comparable restaurant sales increased 0.3% at company-owned restaurants and 0.2% system-wide.

For 2014, the company expects: flat comparable restaurant sales growth; and flat adjusted earnings per share growth.

Kevin Reddy, Chairman and CEO of Noodles & Company, said: "While our second quarter results fell short of our expectations, we made significant progress with regard to long-term investments in key initiatives, including catering and local relationship marketing."