- Revenue increased 19.0% to $53.5 million from $44.9 million in the third quarter of 2012.
- On a calendar basis, comparable restaurant sales increased 3.1% for the thirteen-week period ended September 29, 2013 compared to the thirteen-week period ended September 30, 2012. On a fiscal quarter basis, which includes a one-week calendar shift in the comparison due to the 53rd week in fiscal 2012, sales for the same restaurants increased 1.9%.
- Net income increased to $2.8 million from $790,000 during the same period in 2012. Net income for the third quarter of 2012 included a $1.6 million write-off of deferred loan origination costs associated with a pay down of debt from the Company’s IPO proceeds, or approximately $1.1 million, net of tax. Net income available to common stockholders increased to $2.8 million from $533,000. Diluted income per share was $0.17 compared to $0.05 in the prior year period.
- Pro forma net income (1) increased 26.6% to $2.8 million, or $0.17 per diluted share, from $2.2 million, or $0.13 per diluted share in the third quarter of 2012.
- Restaurant-level EBITDA (1) increased 14.0% to $9.8 million from $8.6 million in last year’s third quarter.
- Two new restaurants opened during the third quarter of 2013.
|(1)||Pro forma net income and restaurant-level EBITDA are non-GAAP measures. For reconciliations of restaurant-level EBITDA and pro forma net income to GAAP net income and discussions of why we consider them useful, see the “Reconciliation of Non-GAAP Measures” accompanying this release.|