Noodles & Co. trims 1Q losses

BROOMFIELD — Noodles & Co., a chain of fast-casual restaurants serving pasta dishes, on Tuesday reported a loss of $2.4 million for its first quarter 2016 that ended March 29, down slightly from a loss of $2.8 million recorded during the same period a year ago.

Broomfield-based Noodles (Nasdaq: NDLS) reported revenue of $114 million for the quarter, a 7.8 percent increase compared with $105.8 million in revenue for the first quarter of 2015.

Fifteen restaurants opened systemwide in the first quarter, including 14 company-owned and one franchise restaurant. There were 507 restaurants at the end of the first quarter, comprised of 436 company-owned and 71 franchise restaurants.

Kevin Reddy, chairman and chief executive, said the results were in line with internal expectations.

“We are excited about the momentum being built across several initiatives, including the media investment in support of our ‘Made.Different.’ brand positioning, building our off-premise sales and key operational improvements,” Reddy said in a prepared statement.

The report said Noodles expects to open approximately 50 new restaurants, including 40 to 45 company-owned restaurants, by the end of 2016.

Noodles’ stock was trading at $11.02 per share when the market closed Tuesday. Its 52-week range is $9.32 to $20.95.

on Facebook on LinkedIn