This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

CORRECTING And REPLACING -- Noodles & Company Announces Preliminary Results For Fourth Quarter 2013

Stocks in this article: NDLS

BROOMFIELD, Colo., Jan. 13, 2014 (GLOBE NEWSWIRE) -- In a release dated January 13, 2014, the expected increase in comparable restaurant sales information was not correctly presented for the fourth quarter of 2013. Comparable restaurant sales are expected to increase 4.3% for company-owned restaurants, 1.5% for franchised restaurants and 3.9% system-wide for the fourth quarter of 2013 compared to the fourth quarter of 2012.

The corrected release reads:

Noodles & Company Announces Preliminary Results for Fourth Quarter 2013

BROOMFIELD, Colo., January 13, 2014 (Globe Newswire) - In advance of management's attendance at the 16th annual ICR XChange Conference and the Jefferies 3rd Annual Winter Consumer Summit, Noodles & Company (Nasdaq:NDLS) today announced preliminary unaudited financial results for the fourth quarter ended December 31, 2013.

Highlights of expected results for the fourth quarter of 2013 compared to the fourth quarter of 2012 include:

  • Total revenue expected to increase 17.4% to $91.5 million from $77.9 million
  • Comparable restaurant sales expected to increase 4.3% for company-owned restaurants, 1.5% for franchised restaurants and 3.9% system-wide
  • 12 new restaurants opened system-wide, including eight company-owned and four franchise restaurants

Preliminary fourth quarter 2013 results

Total revenue is expected to increase $13.5 million to $91.5 million in the fourth quarter, up 17.4% over the fourth quarter of 2012 on an expected system-wide comparable restaurant sales increase of 3.9%. Comparable restaurant sales represent year-over-year sales comparisons for restaurants open for at least 18 full periods. The expected results presented in this press release are based on preliminary financial data and are subject to change until the year-end financial reporting process is complete.

The system opened 12 restaurants in the quarter, including eight company and four franchise locations. As of December 31 st, 2013, Noodles & Company operated 318 company-owned locations and 62 franchise locations.

Chairman and CEO Kevin Reddy remarked, "I am very pleased with our team's continued efforts in building a Category of One in the restaurant space. Our strong top line growth in the fourth quarter, despite significant weather headwinds in many of our markets, is evidence of the strength and resiliency of our concept. I am also proud of our company and franchise development teams opening a record number of restaurants in 2013 as we continue in the early stages of our path to 2,500 restaurants nationwide."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,216.61 +25.24 0.15%
S&P 500 1,994.53 -7.63 -0.38%
NASDAQ 4,617.9220 -20.0720 -0.43%

Partners Compare Online Brokers

Free Reports

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