Good Times Restaurants Inc. (GTIM) saw its loss widen to $0.71 million, or $0.06 a share for the quarter ended Mar. 28, 2017. In the previous year period, the company reported a loss of $0.67 million, or $0.05 a share.

Revenue during the quarter grew 19.13 percent to $18.24 million from $15.31 million in the previous year period. Gross margin for the quarter contracted 24 basis points over the previous year period to 9.01 percent. Operating margin for the quarter stood at negative 2.89 percent as compared to a negative 2.82 percent for the previous year period.

Operating loss for the quarter was $0.53 million, compared with an operating loss of $0.43 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $0.62 million compared with $0.64 million in the prior year period. At the same time, adjusted EBITDA margin contracted 78 basis points in the quarter to 3.39 percent from 4.17 percent in the last year period.

Boyd Hoback, president and chief executive officer said "We are very pleased with both our same store sales trends and the sales from our new restaurants. As a result, we remain confident in our expectations for our same store sales and operating margins, as we've seen some acceleration in Good Times' sales subsequent to the quarter’s end from the rollout of our Better Burger and West Coast Burger initiatives. Our most recent store openings' sales in both brands have exceeded our expectations, including the new Good Times restaurant that has set sales records for any Good Times restaurant and our two newest Bad Daddy's that look like they will both settle in above our average restaurant sales and above our target of $2.5 million. We are also on track for five new Bad Daddy's to open in May, June, August and September and are building our pipeline for fiscal 2018."

For fiscal year 2017, Good Times Restaurants Inc. forecasts revenue to be in the range of $78 million to $80 million.