CHICAGO (AP) _ Potbelly Corp. (PBPB) on Tuesday reported a first-quarter loss of $2.2 million, after reporting a profit in the same period a year earlier.
The Chicago-based company said it had a loss of 9 cents per share. Earnings, adjusted for one-time gains and costs, were 3 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The sandwich restaurant operator posted revenue of $102.9 million in the period.
Potbelly expects full-year earnings in the range of 37 cents to 39 cents per share.
Potbelly shares have decreased slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.65, an increase of slightly more than 1 percent in the last 12 months.
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