Noodles revenue misses estimate, shares slip
Nov 6 (Reuters) - Noodles & Co reported lower-than-expected quarterly revenue, hurt by a tepid consumer spending environment, sending the company's shares down 6.5 percent in extended trading.
The company, which serves pasta and noodle dishes for as little as $8, posted a net income of $3.3 million, or 11 cents per share, up from $133,000, or 1 cent per share, a year earlier.
On an adjusted basis, Noodles earned 11 cents per share in the third quarter.
Revenue rose 15.4 percent to $88.9 million. Analysts on average were expecting revenue of $91 million in the quarter ended Oct. 1, according to Thomson Reuters I/B/E/S.
Comparable restaurant sales for company-owned restaurants were up 2.4 percent, below the 2.7 percent rise that analysts polled by Consensus Metrix had expected.
Noodles' shares had closed at $46.68 on the Nasdaq on Wednesday.
(Reporting by Maria Ajit Thomas in Bangalore; Editing by Joyjeet Das)