Noodles & Company (NASDAQ: NDLS) reported Q3 EPS of $0.10, in-line with the analyst estimate of $0.10. Revenue for the quarter came in at $106.2 million versus the consensus estimate of $105.1 million. Comparable restaurant sales increased 1.6% for company-owned restaurants, 2.0% for franchise restaurants and 1.7% system-wide.

Kevin Reddy, Chairman and Chief Executive Officer of Noodles & Company, remarked, "The sequential improvement in our third quarter comparable sales results reinforces our belief that our team's efforts and our initiatives are resonating with guests. We are particularly excited about our catering program which is now rolled out system-wide and generating positive results as well as very favorable feedback from both guests and team members. We believe investments that we made during the third quarter in marketing and the promotion of our catering offering are having a positive impact and have us well positioned to build on this momentum through the balance of 2014 and into 2015."

Mr. Reddy continued, "We are also very pleased with the performance of our new restaurants and the strength of our new restaurant pipeline. During the third quarter, our non-comparable base restaurants' sales were their highest in almost two years, and we are very pleased with the success of our entries into the metropolitan areas of San Francisco, Boston and Philadelphia."

2014 & 2015 Outlook

Mr. Reddy remarked, "We continue to expand on our path to building 2,500 restaurants nationwide and anticipate unit growth of 12% to 14% during 2015. Based upon the strength of our current year openings, the increased rigor surrounding operations initiatives, and the additional resources directed towards our marketing efforts, I am confident that we will be returning to our top tier long-term growth expectations in 2015."

For 2014, management expects the following:

• 48 to 50 new company-owned restaurant openings;
• 10 to 12 new franchise restaurant openings;
• Flat to +0.5% comparable restaurant sales growth;
• Flat adjusted diluted earnings per share growth; and
• An annual estimated tax rate of 40% to 41%.

For 2015, management expects the following:

• 12% to 14% unit growth;
• 2.5% to 4.0% comparable restaurant sales growth;
• Restaurant level contribution margin of 19.0% to 19.5%; and
• Adjusted diluted earnings per share growth of 20% to 25%.

For earnings history and earnings-related data on Noodles & Company (NDLS) click here.