This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Noodles & Company Announces Third Quarter 2013 Financial Results

Stocks in this article: NDLS

BROOMFIELD, Colo., Nov. 6, 2013 (GLOBE NEWSWIRE) -- Noodles & Company (Nasdaq:NDLS) today announced financial results for the third quarter ended October 1, 2013.

Key highlights for the third quarter of 2013 compared to the third quarter of 2012 include:

  • GAAP net income increased to $3.3 million, from $0.1 million.
  • Adjusted net income (1) increased 44.6% to $3.3 million or $0.11 per diluted share, from $2.3 million.
  • Adjusted EBITDA (1) increased 24.0% to $11.3 million, from $9.1 million.
  • Total revenue increased 15.4% to $88.9 million from $77.1 million.
  • Comparable restaurant sales increased 2.4% for company-owned restaurants, 0.5% for franchise restaurants and 2.1% system-wide.  
  • Restaurant contribution margin decreased 30 basis points to 20.7%.
  • 20 new restaurants opened system-wide, including 15 company-owned and five franchise restaurants.

Key highlights for the first three quarters of 2013 compared to the first three quarters of 2012 include:

  • GAAP net income increased to $4.3 million, or $0.16 per diluted share, from $3.6 million.
  • Adjusted net income (1) increased 21.4% to $8.6 million, or $0.28 per diluted share, from $7.1 million, or $0.24 per diluted share.
  • Adjusted EBITDA (1) increased 17.9% to $32.0 million, from $27.2 million.
  • Total revenue increased 16.6% to $259.5 million from $222.5 million.   
  • Comparable restaurant sales increased 3.1% for company-owned restaurants, 0.3% for franchise restaurants and 2.7% system-wide.
  • Restaurant contribution margin decreased 60 basis points to 20.6%.
  • 42 new restaurants opened system-wide, including 35 company-owned and seven franchise restaurants.

(1) Adjusted net income and Adjusted EBITDA are non-GAAP measures. A reconciliation of US GAAP net income to each of these measures is included in the accompanying financial data. See "Non-GAAP Financial Measures."

Kevin Reddy, Chairman and Chief Executive Officer of Noodles & Company, remarked "Our excellent 45% earnings growth in the third quarter despite a tepid consumer environment is continued evidence of Noodles & Company's ability to sustain our long track record of strong, consistent growth. Moreover, our investments in building the brand have us well positioned to increase our guidance on comparable restaurant sales and new unit growth for the full year 2013, supporting one of the most attractive growth profiles in the industry."

1 of 12

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,341.36 +272.49 1.60%
S&P 500 2,000.83 +28.09 1.42%
NASDAQ 4,617.6680 +69.8340 1.54%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs