P.F. Changs China Bistro (NASDAQ:PFCB), a Scottsdale-based restaurant company, plans to speed the expansion of its new moderately priced chain of restaurants called Pei Wei Asian Diner. The company test marketed the concept last year in Chandler and liked the results enough that it plans to build four more this year, two in the Phoenix metropolitan area and two in Dallas.

The company also plans this to open as many as 14 P.F. Chang's China Bistro, which offers contemporary Chinese cuisine.

The chain, which was established by CEO Paul Fleming in 1993, has expanded rapidly in the past three years. Last year, the company opened 16 new P.F. Chang's locations and one Pei Wei Asian Diner in 1999. The company opened 13 new restaurants and 10 in 1998. P.F. Chang's has restaurants in more than 15 states around the country.

On Wednesday, the company reported is year-end and fourth-quarter results. For the year, P.F. Chang's earned $9.7 million, or 86 cents per share, compared to $6 million, or 54 cents per share a year ago. The company's annual revenue rose from $153.3 million to $234.9 million.