Papa Murphy's (NASDAQ: FRSH) reported Q3 EPS of $0.07, in-line with the analyst estimate of $0.07. Revenue for the quarter came in at $28.13 million versus the consensus estimate of $29.45 million.

Ken Calwell, President and Chief Executive Officer of Papa Murphy's Holdings, Inc., stated, "We are pleased to report positive domestic comparable store sales growth for the 19th consecutive quarter, demonstrating the strength and consistency of our business. Comparable store sales growth at our portfolio of company-owned stores was disproportionately affected in certain markets where we have a large concentration of stores that were lapping an early launch of our highly successful Gourmet DeLites line. In some of our less developed markets where we are focused on building stores and achieving scale, comparable store sales growth was significantly higher than the overall system. In the quarter we also opened 23 new stores in the U.S., including 16 franchise stores and three stores opened under our pre-sale development test."

Calwell added, "We're also excited about the progress we've made with our digital strategy. We've recently launched our first mobile app, allowing customers in select markets to order our delicious products from the convenience of their smartphone. POS and on-line ordering roll-outs are entering the final phase and we are excited with the progress we've made in partnership with Deloitte Digital to enhance our customer-facing e-commerce platform, which will better reflect the Papa Murphy's brand personality and include a state-of-the-art customer experience. We now expect to be in a position to launch the new site by the end of the first quarter of next year, a full quarter ahead of our initial plan."

2015 Financial Outlook

Based on current information, Papa Murphy's Holdings, Inc. is providing the following update to its full-year guidance for fiscal year 2015, which ends on December 28, 2015:

• Domestic system-wide comparable store sales growth in the range of 2.5% to 3.0% (compared to prior guidance of growth of at least 3.0%);
• Total system-wide sales of approximately $900 million (compared to prior guidance of $900 million to $920 million);
• Domestic new store openings of approximately 110 stores (compared to previous guidance of 110 to 115);
• Selling, general and administrative expenses of about $29 million, including a year-end deficit of approximately $580,000 in the consolidated national advertising fund (compared to previous guidance of $28 million to $30 million);
• Depreciation and Amortization expense of about $10 million (compared to previous guidance of $10 million to $12 million); and
• Capital expenditures totaling approximately $23 million (compared to previous guidance of $23 million to $25 million).

For earnings history and earnings-related data on Papa Murphy's (FRSH) click here.