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Famous Dave's of America fiscal Q2 profit falls 30.4% YOY

Famous Dave's of America Inc. said its normalized net income for the fiscal second quarter ended July 3 came to 11 cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

EPS fell 30.1% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $741,250, a decrease of 30.4% from $1.1 million in the second quarter ended June 28, 2015.

The normalized profit margin declined to 2.7% from 3.3% in the year-earlier period.

Total revenue decreased 14.3% year over year to $28.0 million from $32.7 million, and total operating expenses decreased 13.5% year over year to $26.6 million from $30.8 million.

Reported net income declined 71.6% from the prior-year period to $139,160, or 2 cents per share, from $489,510, or 7 cents per share.