Papa Murphy's (NASDAQ: FRSH) reported Q1 EPS of $0.12, versus $0.07 reported last year. Revenue for the quarter came in at $25.1 million, versus $19.6 million reported last year.

Ken Calwell, President and Chief Executive Officer of Papa Murphy's Holdings, Inc., stated "We are pleased to begin fiscal 2014 with impressive increases in revenue and pro forma profitability. Our success continues to be driven by the collective hard work of our team and franchisees, as we continue to help busy parents and families solve the dinnertime dilemma of providing their family with a high-quality, home-cooked meal, at a great value."

Calwell added, "Following the success of our May IPO, we are excited about the opportunities ahead for Papa Murphy's. We have a unique business that has clearly resonated with our guests as demonstrated by the consistency with which they have rated us as their pizza chain of choice over the years, as well as the consistency of our same store sales growth which we again demonstrated in the first quarter. We have tremendous white space potential to grow our store base, including a substantial opportunity within our existing core markets. We also have a number of initiatives in place that we believe can continue to drive same store sales growth and improve store-level profitability across our system."

2014 Financial Outlook

Based on current information, Papa Murphy's Holdings, Inc. is introducing the following guidance for fiscal year 2014, which ends on December 29, 2014:

• At least 105 new domestic franchise store openings
• Domestic comparable store sales growth of at least 2.0%; Domestic comparable sales growth for the second quarter is expected to be below the anticipated annual rate
• Total System-wide sales of at least $830 million

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