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Habit Burger Grill 4Q sales rise 13.2%

Habit Burger Grill 4Q sales rise 13.2%

Increase in transactions drives growth

The Habit Restaurants Inc., parent to the Habit Burger Grill, reported a same-store sales increase of 13.2 percent at company restaurants for the fourth quarter ended Dec. 30, driven in part by a 7.7-percent increase in transactions.

Fiscal 2014 was “a remarkable year for The Habit,” said president and CEO Russ Bendel. The Irvine, Calif.-based fast-casual chain opened its 100th restaurant during the year, along with its first location on the East Coast.

The company also completed its initial public offering, in November 2014, and reported 44 consecutive quarters of same-store sales growth.

“We believe that our commitment to quality, the warm and inviting atmosphere of our stores, our ability to consistently deliver genuine hospitality and deliver exceptional value position us well to continue our growth in the fast-casual restaurant segment,” Bendel said in a statement.

Net income for the fourth quarter was $0.6 million, compared with $1.4 million a year ago, including costs associated with the IPO. Adjusted pro forma net income was $0.7 million, or 2 cents per fully distributed weighted average share, compared with $0.5 million, or 2 cents per fully distributed weighted average share a year ago. The fourth quarter of 2013 included an additional operating week.

For the year, adjusted pro forma net income was $4.1 million, or 16 cents per fully distributed weighted average share, compared with $2.2 million, or 9 cents per fully distributed weighted average share, a year ago, including a 1 cent per share positive impact last year tied to the extra week.

Same-store sales increased 10.7 percent for the year, driven by a 3.7-percent increase in average check and a 6.8-percent increase in transactions.

For fiscal 2015, the company projected same-store sales growth would range between 2.5 percent to 3 percent. Another 26 to 28 corporate locations and three to five franchised units will open.

The Habit ended the year with 100 units in 10 markets in California, Arizona, Utah and New Jersey.
 

4Q NET INCOME

Result: $644,000, or 0 cents per share
% Decrease: 55% (from $1.4 million, or 0 cents per share)

4Q REVENUE

Result: $48.4 million
% Increase: 36% (from $35.5 million)

4Q SAME-STORE SALES

% Increase corporate: 13.2%

Source: Company report



FULL YEAR NET INCOME

Result: $7.6 million, or 0 cents per share
% Increase: 31% (from $5.8 million, or 0 cents per share)

FULL YEAR REVENUE

Result: $174.6 million
% Increase: 45% (from $120.4 million)

FULL YEAR SAME-STORE SALES

% Increase corporate: 10.7%

Source: Company report



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Habit Burger raises $90M in public debut
Habit Burger moves toward national expansion
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Contact Lisa Jennings at [email protected].
Follow her on Twitter: @livetodineout

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