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Einstein Noah revenue, comps and net income increase
May 8, 2008
LAKEWOOD, Colo. — Einstein Noah Restaurant Group has posted strong results for the first quarter ended April 1, 2008.
Comparable-store sales increased 3.6 percent for the quarter, marking the company's 14th consecutive month of positive comps growth.
Revenue increased 7 percent for the quarter to $103.3 million, up from $96.3 million reported in the same period last year.
Net income grew 239 percent to $3.8 million, up from $1.1 million reported in Q1 '07.
In addition, the three new company-owned restaurants, four license locations and the first Einstein Bros. franchise restaurant in Jacksonville, Fla., opened during the quarter.
"Thanks in large part to our increased same-store sales and our efforts in 2007 and early 2008 to lock in the cost of wheat, implement a well-timed price increase and introduce a revamped menu, our results for the first quarter of 2008 reflect impressive financial performance. We are in a growth mode during a time when most companies are pulling back," said Paul Murphy, president and chief executive officer of Einstein Noah Restaurant Group.
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