- Revenue increased 15.8% to $85.6 million from $73.9 million in the third quarter of 2015.
- Comparable restaurant sales increased 0.3% as compared to the same period in 2015.
- GAAP net income increased to $4.6 million, or $0.27 per diluted share, from $4.1 million or $0.24 per diluted share in the third quarter of 2015. Third quarter 2016 results included $0.4 million of closure costs related to one restaurant.
- Adjusted net income (1), which excludes closure costs (net of tax), increased 19.7% to $4.9 million, or $0.29 per diluted share compared to GAAP net income of $4.1 million, or $0.24 per diluted share in the same period in 2015.
- Restaurant-level EBITDA (1) increased 8.5% to $16.3 million from $15.0 million in the third quarter of 2015.
- Three new restaurants opened during the third quarter of 2016.
|(1)||Adjusted net income and restaurant-level EBITDA are non-GAAP measures. For reconciliations of adjusted net income and restaurant-level EBITDA to GAAP net income see the accompanying financial tables. For a discussion of why we consider them useful, see "Non-GAAP Measures" below.|