CORRECTING and REPLACING -- Noodles & Company Announces Preliminary Results
for Fourth Quarter 2013
BROOMFIELD, Colo., Jan. 13, 2014 (GLOBE NEWSWIRE) -- In a release dated
January 13, 2014, the expected increase in comparable restaurant sales
information was not correctly presented for the fourth quarter of 2013.
Comparable restaurant sales are expected to increase 4.3% for company-owned
restaurants, 1.5% for franchised restaurants and 3.9% system-wide for the
fourth quarter of 2013 compared to the fourth quarter of 2012.
The corrected release reads:
Noodles & Company Announces Preliminary Results for Fourth Quarter 2013
BROOMFIELD, Colo., January 13, 2014 (Globe Newswire) - In advance of
management's attendance at the 16th annual ICR XChange Conference and the
Jefferies 3rd Annual Winter Consumer Summit, Noodles & Company (Nasdaq:NDLS)
today announced preliminary unaudited financial results for the fourth quarter
ended December 31, 2013.
Highlights of expected results for the fourth quarter of 2013 compared to the
fourth quarter of 2012 include:
*Total revenue expected to increase 17.4% to $91.5 million from $77.9
*Comparable restaurant sales expected to increase 4.3% for company-owned
restaurants, 1.5% for franchised restaurants and 3.9% system-wide
*12 new restaurants opened system-wide, including eight company-owned and
four franchise restaurants
Preliminary fourth quarter 2013 results
Total revenue is expected to increase $13.5 million to $91.5 million in the
fourth quarter, up 17.4% over the fourth quarter of 2012 on an expected
system-wide comparable restaurant sales increase of 3.9%.Comparable
restaurant sales represent year-over-year sales comparisons for restaurants
open for at least 18 full periods. The expected results presented in this
press release are based on preliminary financial data and are subject to
change until the year-end financial reporting process is complete.
The system opened 12 restaurants in the quarter, including eight company and
four franchise locations. As of December 31^st, 2013, Noodles & Company
operated 318 company-owned locations and 62 franchise locations.
Chairman and CEO Kevin Reddy remarked, "I am very pleased with our team's
continued efforts in building a Category of One in the restaurant space. Our
strong top line growth in the fourth quarter, despite significant weather
headwinds in many of our markets, is evidence of the strength and resiliency
of our concept. I am also proud of our company and franchise development teams
opening a record number of restaurants in 2013 as we continue in the early
stages of our path to 2,500 restaurants nationwide."
Noodles & Company's management will present at the 16th Annual ICR XChange
Conference at the Grande Lakes Orlando Resort in Florida on January 14, 2014.
The presentation will begin at 12:30 PM Eastern time. Investors and interested
parties may listen to a webcast of this presentation by visiting
www.noodles.com and clicking the tab "Investor Relations" or directly through
ICR XChange website at www.icrxchange.com
On January 21, 2014, the Company will also participate at Jefferies 3rd Annual
Winter Consumer Summit at the Ritz-Carlton Bachelor Gulch in Avon, Colorado.
About Noodles & Company
Founded in 1995, Noodles & Company is a fast-casual restaurant chain that
serves classic noodle and pasta dishes from around the world with 380
locations system-wide in 29 states and the District of Columbia as of December
31, 2013. Known as Your World Kitchen, Noodles & Company's globally inspired
menu consists of more than 25 fresh, customizable noodle bowls, salads, soups
and sandwiches that are prepared quickly using quality ingredients. From
healthy to indulgent, spicy to comforting, the menu provides favorites for
everyone from kids to adults. Popular dishes include the spicy Indonesian
Peanut Sauté, Med Salad with naturally raised pork and creamy Wisconsin Mac &
This press release contains a number of forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.Words, and
variations of words, such as "believe," "estimate," "anticipate," "expect,"
"intend," "may," "will," "would" and similar expressions are intended to
identify our forward-looking statements. Examples of forward-looking
statements include all matters that are not historical facts, such as
statements regarding our preliminary financial results for the fourth quarter
of 2013, including preliminary total revenue and preliminary comparable
restaurant sales, and future restaurant development. By their nature,
forward-looking statements involve risks and uncertainties that could cause
actual results to differ materially from the Company's forward-looking
statements. These risks and uncertainties include any potential revisions or
adjustments to our preliminary fourth quarter of 2013 financial results as the
financial reporting process is completed and our ability to open new
restaurants.For additional information on these and other factors that could
affect the Company's forward-looking statements, see the Company's risk
factors, as they may be amended from time to time, set forth in its filings
with the SEC, including the final prospectus filed December 9, 2013.The
Company disclaims and does not undertake any obligation to update or revise
any forward-looking statement in this press release, except as may be required
by applicable law or regulation.
CONTACT: Investor Relations
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