Shares of fast-casual restaurant Noodles & Company (NASDAQ: NDLS) took a hit on Friday, falling as much as 15.2%. As of 11:48 a.m. EDT, the stock was down about 14.7%
The stock's decline follows Noodles' fourth-quarter results. While comparable-restaurant sales were strong for the quarter, the company missed analyst estimates for both revenue and non-GAAP earnings per share.
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Noodles & Company reported fourth-quarter revenue of $113 million, up 0.4% from $112.8 million in the year-ago quarter. Non-GAAP earnings per share was $0.01, in line with its earnings per share in the year-ago quarter.
Analysts, on average, were expecting revenue of $114 million and non-GAAP EPS of $0.02.
Noodle's comparable-restaurant sales notably ticked 4% higher, driven by a 3.7% rise in company-owned restaurants and a 5.3% increase in franchise restaurants.
Noodles executive chairman Paul Murphy had this to say about the company's expectations and plans for 2019:
We have maintained momentum into 2019, with our initiatives continuing to drive positive comparable sales despite the historically severe weather that has hampered the majority of our major markets. The organization will continue to innovate around the core strengths of the brand, our real estate pipeline is in great shape, and our liquidity profile gives us the flexibility to continue to invest in the growth of Noodles & Company.
Management said it expects revenue to rise from $457.8 million in 2018 to between $462 million and $470 million in 2019 and projects comparable-restaurant sales to increase 2% to 4%.
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