Noodles & Company reported on Wednesday a 45-percent increase in net income for the third quarter ended Oct. 1, after adjusting for expenses and fees related to its initial public offering in July and paying down debt. Officials, however, described the consumer environment as “tepid.” The Broomfield, Colo.-based company ended the quarter with 310 company-owned restaurants and 58 franchised units after opening 20 restaurants during the quarter.
ADJUSTED NET INCOME
Result: $3.3 million, or 11 cents per share% Increase: 45% (from $2.3 million, or 8 cents per share)
REVENUE
Result: $88.9 million% Increase: 15% (from $77.1 million)
SAME-STORE SALES
% Increase systemwide: 2.1%
% Increase at corporate units: 2.4%
% Increase at franchised units: 0.5%
Source: Company report
RELATED:
• Noodles & Company files for $75M IPO
• Noodles & Company sets IPO terms
• More restaurant finance news
Contact Lisa Jennings at [email protected].
Follow her on Twitter: @livetodineout
