Shake Shack Inc. (SHAK) has reported 55.06 percent jump in profit for the quarter ended Mar. 29, 2017. The company has earned $2.27 million, or $0.09 a share in the quarter, compared with $1.46 million, or $0.07 a share for the same period last year.

Revenue during the quarter surged 41.69 percent to $76.75 million from $54.16 million in the previous year period. Gross margin for the quarter contracted 226 basis points over the previous year period to 37.71 percent. Total expenses were 92.67 percent of quarterly revenues, up from 91.30 percent for the same period last year. That has resulted in a contraction of 137 basis points in operating margin to 7.33 percent.

Operating income for the quarter was $5.63 million, compared with $4.71 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $12.17 million compared with $9.44 million in the prior year period. At the same time, adjusted EBITDA margin contracted 157 basis points in the quarter to 15.86 percent from 17.43 percent in the last year period.

Randy Garutti, chief executive officer of Shake Shack, stated, "We're proud of our nearly 42% total revenue growth and 29% Adjusted EBITDA growth in the first quarter, adding 13 new system-wide Shack openings. New company-operated Shack growth represented approximately $24 million of increased revenue this quarter, offset by a decrease in same-Shack sales. We are clearly dissatisfied with our comp result in Q1, but as a reminder our small comp base is made up of only 32 Shacks, the majority of which exist in the Northeast region which was most affected by cold weather and the holiday shift in March."

For fiscal year 2017, Shake Shack forecasts revenue to be in the range of $351 million to $355 million.