News

Loss narrows at NWRG

March 13, 2007

GOLDEN, Colo. — New World Restaurant Group Inc., which operates bagel restaurants under the Einstein Bros. and Noah's New York Bagels brands and franchises restaurants under the Manhattan Bagel brand, saw same-store sales at its restaurants rise 4.7 percent in the fourth quarter ended Jan. 2, the ninth straight quarter of increased comps.

For the year, NWRG's comps rose 4.5 percent.

Revenue for the fourth quarter was $99.2 million, compared with revenue of $103.9 million in the fourth quarter of 2005. Much of the difference was due to the fact that the 2006 fourth quarter spanned 13 weeks compared with 14 weeks for the 2005 fourth quarter.

Revenue for the year increased to $390 million compared with $389.1 million in 2005, despite the fact that 2005 spanned 53 weeks compared with 52 weeks for the 2006 fiscal year.

NWRG's net income for the fourth quarter was $6 million compared with a loss of $723,000 for the 2005 fourth quarter. For the year, NWRG recorded a loss of $6.9 million compared with a loss of $14 million the previous year.