Così (COSI) Misses Q4 EPS by 1c, Offers Outlook

Così (NASDAQ: COSI) reported Q4 EPS of ($0.08), $0.01 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $24 million versus the consensus estimate of $24.48 million.

System-wide comparable net restaurant sales, as measured for restaurants in operation for more than 15 consecutive months as Company-owned or franchised restaurants, recorded an aggregate increase of 0.7% when compared to the 2014 fourth quarter.

Future Outlook:

The Company previously reported that it expects to deliver positive adjusted EBITDA in mid-2016 and lay the foundation required to grow in 2017. RJ Dourney, the Company's President & CEO, stated "We set out to reduce cash burn in the fourth quarter and not only were we able to accomplish that, but we also continue to see further reductions in 2016.”

“We stabilized sales in the fourth quarter and expect to meet our conservative sales estimates for 2016. We also reached an inflection point in the fourth quarter and are moving the legacy portfolio of restaurants towards profitability, a trend that we continue to see in 2016,” Dourney went on to say.

Dourney then addressed the Company’s objective in 2016, stating, “We are building a stable foundation in 2016 in order to grow the franchise system in 2017. I am excited about the recent developments in our existing franchised territories, and encouraged by the conversations we are having with a number of potential new partners.”

For earnings history and earnings-related data on Così (COSI) click here.

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