UPDATE: Shake Shack Shares Drop After Q4 Results

Shares of Shake Shack Inc. SHAK fell more than 6% in after-hours trading after the company released its first quarterly results as a public company. The New York-based company posted a quarterly loss of $1.4 million, or $0.05 per share, versus a year-ago profit of $997,000, or $0.03 per share. The latest quarter results included around $0.04 per share in after-tax expenses related to its initial public offering. The company's adjusted loss for the quarter came in at $0.01 per share. Its total revenue climbed 51.5% to $34.8 million in the quarter. However, analysts were projecting a loss of $0.03 per share on revenue of $33 million. Shack sales surged 51.6% to $33.1 million. Same-Shack sales, excluding sales from the 14th week, gained 7.2%. Licensing revenue climbed 49.7% y/y to $1.7 million for the fourth quarter. Adjusted EBITDA jumped 58.5% to $4.8 million in the quarter. Restaurant-level operating margin slipped 0.4 percentage point to 22.3%. General and administrative expenses jumped 82.3% y/y to $6.0 million in the fourth quarter. Randy Garutti, Chief Executive Officer of Shake Shack, said, "We are pleased with the strength of our fourth quarter results and excited to begin our journey as a public company. Our culture of Enlightened Hospitality has enabled Shake Shack to become a globally beloved brand where all of our stakeholders are rooting for our success." For the fiscal year ending December 30, 2015, the company expects revenue of $159 million to $163 million, versus analysts' estimates of $161 million. The company also projects same-Shack sales to rise in the low single digits. Shake Shack shares fell 6.40% to $43.90 in the after-hours trading session.