Zoe's Profit Tops Estimates; Stock Up 2%

(RTTNews) - Zoe's Kitchen Inc (ZOES) on Thursday reported first-quarter net earnings of $0.7 million or $0.04 per share compared with a loss of $10 million or $0.76 per share last year.

Excluding stock-based compensation expense and other one-time items, adjusted earnings for the quarter were $0.04 per share compared with a loss of $0.02 per share a year ago.

Revenues for the quarter were $63 million compared with $46.3 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.01 per share on revenues of $61.5 million for the quarter. Analysts' estimates typically exclude special items.

Comparable restaurant sales increased 7.7% in the quarter.

For the full year 2015, the company now expects restaurant sales of $218 million to $223 million, up from prior guidance of $215 million to $220 million.

Analysts expect revenues of $220.1 million for the year.