News

Revenues, sales up at The Habit

March 4, 2019

The Habit Restaurants saw revenues and comparable restaurant sales increase during its fourth quarter and fiscal year ending Dec. 25, 2018.

"We are pleased with our results in the fourth quarter, which included revenue growth of 21 percent, which was helped in part by a 2.4 percent increase in comparable restaurant sales," CEO Russ Bendel said in a company press release. "We believe that our recent success has been driven by our renewed focus on being more convenient for our guests as well as our continued focus on providing the highest quality products and service at an affordable price."

Highlights for the fourth quarter ended December 25, 2018 include:

• Total revenue increased 21 percent to $102.7 million compared to $84.8 million in the fourth quarter of 2017.
• Company-operated comparable restaurant sales increased 2.4 percent as compared to the fourth quarter of 2017.
• Net income was $0.7 million, or $0.03 per diluted weighted average share, compared to a net loss of $6.4 million, or $(0.31) per diluted weighted average share, in the fourth quarter of 2017.
• Adjusted fully distributed pro forma net income(1) was $0.7 million, or $0.03 per fully distributed weighted average share compared to a net loss of $0.2 million, or $(0.01) per fully distributed weighted average share for the fourth quarter of 2017.
• Adjusted EBITDA was $8.9 million compared to $7.1 million for the fourth quarter of 2017.
• Opened four company-operated restaurants and three franchised/licensed restaurants and closed two franchised restaurants.
• Total revenue was $102.7 million in the fourth quarter of 2018, compared to $84.8 million in the fourth quarter of 2017.
• Company-operated comparable restaurant sales increased 2.4 percent. The increase in company-operated comparable restaurant sales was driven primarily by a 5.4 percent increase in average transaction amount partially offset by a 3.0 percent decrease in transactions.

Fiscal year 2018 compared to the fiscal year 2017

• Company-operated comparable restaurant sales increased 1.5 percent. The increase in company-operated comparable restaurant sales was driven primarily by a 4.5 percent increase in average transaction amount partially offset by a 3.0 percent decrease in transactions.
• Net income for the fiscal year 2018 was $2.8 million, or $0.13 per diluted weighted average share, compared to a net loss of $3.1 million, or $(0.15) per diluted weighted average share, in the fiscal year 2017.
• Total revenue was $402.1 million in the fiscal year 2018, compared to $331.4 million in the fiscal year 2017.

2019 outlook

The company anticipates the following for its fiscal year 2019:

• Total revenue between $458 million to $462 million.
• Company-operated comparable restaurant sales growth of approximately 2.0 percent to 3.0 percent.
• The opening of approximately 21 to 23 company-operated restaurants and 10 to 12 franchised/licensed restaurants.
•  Capital expenditures of $35.0 million to $38.0 million.