Chuy’s Holdings Inc. reported on Monday that profit increased in its fourth quarter as it expanded its number of restaurants to 40 during the full year.
Austin, Texas-based Chuy’s, which went public last July, said net income rose in the fourth quarter to $2.6 million, or five cents per share, from $300,000 in the same period a year ago.
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Revenue during the quarter, which ended Dec. 30, increased 40.3 percent to $46.7 million, from $33.3 million in the prior-year period. Tex-Mex-themed Chuy’s added eight new casual-dining restaurants in 2012.
Same-store sales in the 14-week quarter increased 5.2 percent for Chuy's. However, excluding from the comparison the positive impact of an extra 1.5 operating days because of the Christmas holiday, same-store sales increased 3 percent, the company reported.
The rise in same-store sales was driven by a 2.1-percent increase in average check and a 0.9-percent increase in traffic, the company added. The same-store comparison was based on 24 restaurants.
Chuy's opened one new restaurant during the fourth quarter of 2012 and eight new restaurants during the year. Steve Hislop, Chuy’s president and chief executive, said in a statement that the company plans to open eight to nine new restaurants in 2013.
In guidance for fiscal 2013 the company said it expected per-share income in the range of 66 cents to 69 cents on same-store sales growth of 1 percent to 1.5 percent.
Chuy’s operates full-service restaurants in eight states.
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