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Noodles & Co. profit misses consensus by 34.7% in Q1

Noodles & Co. said its first-quarter normalized net income came to 3 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

EPS fell 39.6% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $961,880, a decline of 41.9% from $1.7 million in the first quarter ended April 1, 2014.

The normalized profit margin declined to 0.9% from 1.9% in the year-earlier period.

Total revenue grew 18.1% year over year to $105.8 million from $89.5 million, and total operating expenses rose 19.7% on an annual basis to $104.0 million from $86.8 million.

Reported net income totaled a loss of $2.7 million, or a loss of 9 cents per share, compared to income of $1.6 million, or 5 cents per share, in the first quarter ended April 1, 2014.