Total revenue for the 13-week fourth quarter of 2014 was $48.4 million compared to $35.5 million in the 14-week fourth quarter of 2013. Fourth quarter 2013 results included approximately $2.5 million in revenue attributed to the extra week. Excluding the additional week of sales in the fourth quarter of 2013, revenue increased by 46.7%.
Company-wide comparable restaurant sales increased 13.2% on a comparable 13-week basis.
Net income for the fourth quarter of 2014 was $0.6 million, compared to $1.4 million in the fourth quarter of 2013.
Adjusted fully distributed pro forma net income(1) for the fourth quarter of 2014 was $0.7 million, or $0.02 per fully distributed weighted average share.
Adjusted EBITDA(1) increased 41.5% to $5.3 million for the fourth quarter of 2014, compared with $3.7 million for the fourth quarter of 2013.
The Company opened 11 restaurants during the fourth quarter of 2014 to finish the year with 109 company-owned locations and one licensed location.
(1) Adjusted fully distributed pro forma net income and adjusted EBITDA are non-GAAP measures. A reconciliation of GAAP net income to each of these measures is included in the accompanying financial data. See also "Non-GAAP Financial Measures."
"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. "We believe that our commitment to quality, the warm and inviting atmosphere of our stores, our ability to consistently deliver genuine hospitality and deliver exceptional value position us well to continue our growth in the fast casual restaurant segment."
Fourth Quarter 2014 Financial Results Compared with Fourth Quarter 2013
Total revenue was $48.4 million, compared to $35.5 million in the fourth quarter of 2013. The Company's fourth quarter of 2014 included 13 weeks compared to 14 weeks in the fourth quarter of 2013. Revenue in the fourth quarter of 2013 attributed to the extra week totaled approximately $2.5 million. Excluding the additional week of sales in the fourth quarter of 2013, revenue increased by 46.7%.
Comparable restaurant sales increased 13.2% for the 13-week period ended December 30, 2014, compared to the 13-week period ended December 31, 2013. The increase in comparable restaurant sales was driven primarily by a 5.1% increase in average transaction amount and a 7.7% increase in transactions.
Net income for the fourth quarter of 2014 was $0.6 million, compared to $1.4 million in the fourth quarter of 2013.
Adjusted fully distributed pro forma net income in the fourth quarter of 2014 was $0.7 million, or $0.02 per fully distributed weighted average share, compared to $0.5 million, or $0.02 per fully distributed weighted average share, in the fourth quarter of 2013. Fourth quarter 2013 results included a $0.01 per fully distributed weighted average share positive impact due to an extra operating week. A reconciliation between GAAP net income and adjusted fully distributed pro forma net income is included in the accompanying financial data.