DETAILS: The Chicago-based restaurant chain went public in October and received proceeds of $108.8 million from the offering, which it used to fund a special dividend and pay down debt. It plans to use the remaining proceeds for general corporate purposes.
Potbelly said that it benefited from strong sales. Its quarterly revenue from company-owned stores open at least a year increased 2.5 percent, which is considered a key indicator of financial performance as it strips away the impact of recently opened and closed sites.
NUMBERS: Potbelly reported net income attributable to the company of $2.2 million versus $2.5 million last year. After making its special dividend to stockholders tied to its IPO and other special items, the company posted a third-quarter loss attributable to shareholders of $52.5 million, or $12.29 per share. That's compared with a loss of $3 million, or 75 cents per share, last year.
The company earned 15 cents per share versus 12 cents per share after adjusting for all one-time costs tied to the offering.
Potbelly's total revenue increased 12 percent to $78 million.
Analysts polled by FactSet were anticipating earnings of 9 cents per share on revenue of $77.9 million.
FUTURE: Potbelly said that it expects adjusted income between $7.5 million and $8.1 million for the full fiscal year on revenue between $300 and $303 million. The company did not provide per-share guidance. Analysts had forecast revenue of $301.6 million for the year.
It also said that it expects 40 to 42 new store openings for the year. At quarter-end Potbelly operated 288 locations, while franchisees operated another 19 restaurants.
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