Noodles generated solid growth in 2013
Last Updated: 13:58 February 27, 2014
Broomfield-based Noodles' (Nasdaq NDLS) revenue increased $50.5 million during 2013, or 16.8 percent, 40 cents per diluted share, compared with $300.4 million in 2012.
For the fourth quarter that ended Dec. 31, Noodles' net income was $3.5 million, a 65.9 percent increase compared with $2.1 million for the fourth quarter of 2012. Revenue for the fourth quarter was $91.5 million, a 17.4 percent increase compared with S77.9 million for the same period a year ago.
"We're pleased to have maintained our operating momentum in the fourth quarter with our 18th straight quarter of comparable restaurant sales growth and a 66 percent increase in our adjusted net income for the quarter," said Kevin Reddy, chairman and chief 3executive.
Reddy said Noodles has plans to open 42 to 50 new company-owned restaurants this year, and franchisees expect to open 10 to 15 new restaurants in 2014.
Founded in 1995, Noodles restaurants serve noodle and pasta dishes at 380 locations in 29 states and the District of Columbia.
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Fresh off of a glowing 2013 earnings report that showed profit had more than doubled
According to a document filed with the