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Noodles & Co. swings to loss in fiscal Q4

Noodles & Co. said its normalized net income for the fiscal fourth quarter ended Dec. 29, 2015, amounted to a loss of $172,500, compared with income of $3.8 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 0.1% from 3.5% in the year-earlier period.

Total revenue grew 7.9% on an annual basis to $117.1 million from $108.5 million, and total operating expenses rose 14.2% from the prior-year period to $116.8 million from $102.3 million.

Reported net income totaled a loss of $4.5 million, or a loss of 16 cents per share, compared to income of $3.7 million, or 12 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 15 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 14 cents.

EPS declined 62.0% from 40 cents in the prior year.

Normalized net income was $4.4 million, a fall of 64.5% from $12.5 million in the prior year.

Full-year total revenue grew 12.8% year over year to $455.5 million from $403.7 million, and total operating expenses grew 16.6% year over year to $446.9 million from $383.3 million.

The company said reported net income came to a loss of $13.9 million, or a loss of 48 cents per share, in the full year, compared with income of $11.5 million, or 37 cents per share, the prior year.