Noodles reports improved revenue, profit

BROOMFIELD – Fast-casual restaurant chain Noodles and Co. (Nasdaq: NDLS) on Tuesday reported first-quarter revenue of $89.5 million, a 10.1 percent increase compared with the same period a year ago.

Broomfield-based Noodles’ first quarter ended April 1.

The company posted a net profit of $1.4 million, up from $900,000 a year ago. The profit amounted to 5 cents per share.

Noodles chief executive Kevin Reddy said in the earnings release that the company opened 14 new restaurants in the first quarter, including 13 company-owned locations. He said the company is on track to open 42 to 50 company-owned sites this year along with 10 to 15 franchise sites.

Reddy said Noodles will be rolling out a catering program to most of the country by the middle of the third quarter.

“We feel these initiatives, supported by intense focus on our throughput and service initiatives, will garner momentum through the balance of 2014,” Reddy said.

Noodles shares closed at $38 Tuesday, up nearly 4 percent.




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