For the fourth quarter ended Dec. 31, the company's net profit rose to $4.3 million, 16 cents per share on a diluted basis, from $3.7 million in the like quarter a year before, with revenues climbing 36% to $173.3 million.
For the year, net income totaled $37.7 million, which included a one-time tax benefit of $20.3 million from tax net operating losses. That compared to $6.1 million in 2004. The 2005 income worked out to $1.43 per share, or 66 cents excluding the one-time benefit. Revenues increased 33.3% to $627.7 million and comparable restaurant sales increased 10.2%, the eighth consecutive year of double-digit comparable sales increases.
Fast-growing Chipotle opened 28 company-owned restaurants during the fourth quarter, including 26 restaurants in existing markets and two in new markets. The chain opened 80 company-owned restaurants in 2005, representing a 20% increase from the end of 2004.
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