Diversified Restaurant Holdings, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 25, 2016. For the quarter, the company reported revenues of $40,801,180 against $42,303,292 a year ago. Operating profit was $854,275 against $279,417 a year ago. Loss from continuing operations before income taxes was $844,530 against $1,058,693 a year ago. Income from continuing operations was $186,286 compared to loss of $908,931 a year ago. Net loss was $4,861,335 or $0.18 per share basic and diluted against $9,555,256 or $0.36 per share basic and diluted a year ago. EBITDA was $4,413,500 against $5,042,064 a year ago. Adjusted EBITDA was $4,459,921 against $6,356,080 a year ago.

For the full year, the company reported revenues of $166,520,925 against $144,800,046 a year ago. Operating profit was $7,303,971 against $2,838,485 a year ago. Profit from continuing operations before income taxes was $1,368,256 against loss of $590,376 a year ago. Income from continuing operations was $3,639,048 compared to loss of $506,862 a year ago. Net loss was $6,002,481 or $0.23 per share basic and diluted against $16,192,492 or $0.62 per share basic and diluted a year ago. EBITDA was $22,339,123 against $15,728,068 a year ago. Adjusted EBITDA was $23,345,241 against $21,621,656 a year ago.

For the full year 2017, the company expected revenue of $173 million to $178 million, restaurant-level EBITDA of $33 million to $36 million, adjusted EBITDA between $23.5 million to $26.5 million and capital expenditures of approximately $4 million to $6 million.

The company announced that one new restaurant is under construction and expected to open in the second quarter of 2017. Two to four remodels are planned for 2017 which are targeted at approximately $0.6 million each.