Shares in Habit Restaurants Inc. in Irvine were up more than 10% in Friday trading to a market cap of about $475 million on its quarterly and full-year report, issued after markets closed Thursday.
The fast casual burger chain had net income of $1.3 million on revenue of about $74 million in its most recent quarter; these numbers were up from $500,000 in net income on revenue of about $61 million year-over-year.
Habit reported annual net income of $4.7 million on revenue of about $284 million, compared with annual net income of $2.8 million on revenue of about $230.6 million in 2015.
The company opened 13 restaurants in the fourth quarter—11 of them company-run locations—and closed one company-run restaurant. At year-end Habit had 172 locations—94% of them company-run.
There are an additional six, licensed “legacy” locations in Santa Barbara County connected to the founding of the chain in 1969.