The Habit Restaurants Inc. reported Thursday a 12.6-percent increase in same-store sales for the first quarter ended March 31.
The Irvine, Calif.-based parent to the Habit Burger Grill chain said first-quarter net income rose 20 percent, to $3 million, or 8 cents per share, compared with $2.5 million a year ago, when the company was private.
“We are pleased to have delivered another strong quarter of operating results for the first quarter, resulting in our 45th consecutive quarter of comparable sales growth,” Russ Bendel, president and CEO of The Habit Restaurants, said in a statement. “Our broad menu of high-quality, fresh ingredients, our comfortable and current atmosphere in our stores, and a strong operating culture continues to differentiate us from others in the fast-casual segment.”
Adjusting for costs associated with the company’s initial public offering last year, pro forma net income was $2.3 million, or 9 cents per fully distributed weighted average share.
Revenue rose 44 percent, to $54.6 million, compared with $37.8 million a year ago. The 12.8-percent increase in same-store sales was driven by a 6.8-percent increase in transactions and a 5.8-percent increase in average check.
The company opened four restaurants during the quarter, for a total of 113 company-owned and one licensed location. In fiscal 2015, the company plans to open 26 to 28 new restaurants.
For the year, same-store sales are projected to increase between 4 percent and 4.5 percent.
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