Shares of hot-wings purveyor and sports-bar operator Buffalo Wild Wings (NASDAQ:BWLD) are as red-hot as some of its sauces, having almost doubled since the lows they reached last summer. Even with the run-up, if growth continues the way the company is proposing, share performance will keep sizzling.

B-dubs, as the company is also known, reported fourth-quarter and year-end 2006 results yesterday after the market close. It's hard to find results as impressive as the fourth quarter's -- sales improved 41.3%, and same-store sales at company-owned stores grew 13.2%. Franchised comps grew a mortal 6.5%, but the combination of an extra week during the quarter and favorable cost trends contributed to a 157% growth in diluted earnings.

Results for the year were also impressive. Total sales grew 33%, and diluted earnings advanced nearly 82%. Even better, B-dubs is generating enough internal capital to fund projected 15% unit growth over the next three years. It also expects 20% sales and 25% earnings growth over the same time frame. Only a handful of other food chains, such as P.F. Chang's (NASDAQ:PFCB), Kona Grill (NASDAQ:KONA), and Sonic (NASDAQ:SONC), are capable of matching that type of growth, but none compete in the currently popular chicken-wing-and-sports-bar realm.

At close to 30 times trailing earnings, Buffalo Wild Wings' stock is now being priced as if its stellar growth prospects are a forgone conclusion. Based on market capitalization, the company still qualifies as a small-cap stock, and a low store count means it has plenty of room to expand. I wouldn't count on results as strong as those just posted, and there will undoubtedly be speed bumps along the way, but the future still looks bright for B-dubs.

For related Foolishness:

Buffalo Wild Wings is a Motley Fool Hidden Gems selection, and you can learn much more about it with a free 30-day trial subscription.

Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to discuss any companies mentioned further. The Fool's disclosure policy is awfully good at trivia.