Aug 13 Fast-casual restaurant chain Noodles & Co
reported a lower-than-expected quarterly profit, hurt
partly by a fall in same-store sales.
Shares fell nearly 17 percent to $20.97 in extended trading.
The company said profit rose to $3.5 million, or 11 cents
per share, in the second quarter ended July 1, from $68,000 a
Revenue rose 11.5 percent to $99.5 million. Same-store sales
fell 0.7 percent.
Excluding items, the company earned 12 cents per share.
Analysts on average had expected earnings of 15 cents per
share on revenue of $102.9 million, according to Thomson Reuters
(Reporting by Ramkumar Iyer in Bangalore; Editing by Maju