UPDATE: Habit Restaurants Shares Slide After Q4 Results

Shares of

slipped more than 5% in after-hours trading after the company reported financial results for its fourth quarter on Tuesday. The Irvine, California-based company posted quarterly net income of $0.6 million, down from $1.4 million, in the year-ago quarter. Adjusted fully distributed pro forma net income came in at $0.7 million, or $0.02 per share in the quarter, compared to $0.5 million, or $0.02 per share, in the year-ago period. Its total revenue for the quarter climbed to $48.4 million from $35.5 million, versus analysts' estimates of $47 million. Comparable restaurant sales surged 13.2% in the quarter. Adjusted EBITDA climbed 41.5% to $5.3 million for the quarter. During the quarter, the Company opened 11 restaurants. "2014 was a remarkable year for The Habit. Among the highlights were the opening of our 100th Habit restaurant, the opening of our first restaurant on the East Coast and our burger being named the "best tasting burger in America" by one of America's leading consumer magazines. We also completed our IPO and reported our 44th consecutive fiscal quarter of positive comparable restaurant sales growth," said Russ Bendel, President and Chief Executive Officer of The Habit Restaurants, Inc. Habit Restaurants expects FY15 total revenue of $216 to $219 million and comparable restaurant sales growth of 2.5% to 3.0%. Habit Restaurants shares fell 4.50% to $33.95 in the after-hours trading session.