UPDATE: Papa Murphy's Shares Jump After Q4 Results

Shares of

jumped more than 25% in after-hours trading after the company reported financial results for the fourth quarter. The Vancouver, Washington-based company posted quarterly net income of $2.8 million, or $0.17 per diluted share, versus a year-ago net loss of $2.9 million, or $1.15 per share. In the year-ago quarter, pro forma net income was $443,000, or $0.03 per diluted share. Its total revenue rose 24.8% to $28.3 million in the quarter. However, analysts were expecting earnings of $0.18 per share on revenue of $26.43 million. Domestic system comparable store sales climbed 8.4% in the quarter. Same-store sales from company-owned stores jumped 10.5%, while same-store sales from domestic franchisee-owned stores gained 8.2%. Adjusted EBITDA rose 16.6% y/y to $8.8 million in the quarter. During the quarter, Papa Murphy's opened 38 stores system-wide. Ken Calwell, President and Chief Executive Officer of Papa Murphy's Holdings, Inc., said, "We remain confident in our long term growth opportunity and continue to invest in our Company Store Division through strategic franchise acquisitions to spur growth in our frontier markets. Through this investment, combined with future company-owned and ongoing franchise store development, we believe we can continue to drive increased awareness of the Papa Murphy's brand and, in turn, further improvements in sales and profitability." For fiscal year 2015, the company projects domestic system-wide comparable store sales to rise around 3.0% and total system-wide sales of $900 million to $920 million. Papa Murphy's shares jumped 25.85% to $18.50 in the after-hours trading session.