MINNEAPOLIS (AP) -- Buffalo Wild Wings Inc.'s shares soared in after-hours trading Tuesday after the restaurant chain reported that its fourth-quarter results jumped 34 percent to beat market expectations.
The restaurant operator said that its net income rose to $13.6 million, or 73 cents per share, for the quarter that ended Dec. 31 versus $10.2 million, or 55 cents per share, in the same quarter last year.
Total revenue jumped 34.5 percent to $220.5 million as more people dined at its restaurants and it received more in franchise fees.
The results beat analyst expectations of 67 cents per share on revenue of $210.2 million, according to FactSet.
Buffalo Wild Wings has been a standout in the restaurant industry, expanding its base of restaurants and growing in popularity despite the tough economy. It operated 817 restaurants in the U.S. and Canada as of the end of the quarter
It's not just seeing growth from its new sites though. Revenue from its stores open at least a year, considered a key measure as it strips away the impact of newly opened or closed sites, rose 8.9 percent for the quarter at company-owned sites and 5.9 percent at franchised locations.
Buffalo Wild Wings said it earned $50.4 million, or $2.73 per share, for the year versus $38.4 million, or $2.10 per share, in the prior year. Full-year revenue increased nearly 28 percent to $784.5 million.
It expects its net earnings growth to increase 20 percent for 2012.
Shares of the company, which is based in Minneapolis, rose $10.56 — 15 percent — to $80.75 in after-hours trading. During regular trading before the company reported its results, its shares rose $1.31 to close at $70.19.
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