Shares in Irvine-based Habit Restaurants Inc. fell about 7.5% in midday trading Thursday to a market cap of $750 million after a mixed quarterly report Wednesday.
Shares in Irvine-based Habit Restaurants Inc. fell about 7.5% in midday trading Thursday to a market cap of $750 million after a mixed report Wednesday on its most recent quarter.
The casual burger chain reported second quarter revenue of $56.7 million, 40% higher year-over-year compared with 2014's $41.5 million, but said its income was up only marginally at $2.4 million, compared with 2.3 million in the same period a year earlier.
Comparable system-wide sales increased about 9% and Habit opened four new restaurants, finishing the quarter with 117 company-owned restaurant and one licensed location—23 more restaurants compared to the same period in 2014.
Habit affirmed its plan to open 26 to 28 company-owned and three to five franchised or licensed locations this year.
It said 2015 revenue will be about $226 million.