News
Einstein Noah net increase 557%
November 8, 2007
LAKEWOOD, Colo. — Einstein Noah Restaurant Group Inc. announced strong results for its third quarter and nine-month period ended October 2, 2007.
Comparable-store sales grew by 5.2 percent in the third quarter, the company's 12th consecutive quarter of sales growth in company-owned restaurants, the company reported.
Third-quarter total revenues grew by 4.8 percent to $100.4 million, up from $95.8 million in the same quarter last year. Revenue from company-owned restaurant sales increased 4.3 percent to $93 million, up from $89.2 million.
The company reported a 24 percent increase in operating income, up to $6.8 million for the quarter from $5.5 million in the third quarter last year. The higher operating income, combined with lower interest costs resulting from the recent debt restructuring, resulted in a 557 percent increase in net income in the third quarter, up to $4.9 million from $752,000 in the same quarter last year.
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