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Luby's fiscal Q1 loss narrows YOY

Luby's Inc. said its normalized net income for the fiscal first quarter ended Dec. 16, 2015, came to a loss of 6 cents per share, compared with a loss of 9 cents per share in the first quarter ended Nov. 19, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.7 million, compared with a loss of $2.7 million in the first quarter ended Nov. 19, 2014.

The normalized profit margin climbed to negative 1.4% from negative 3.1% in the year-earlier period.

Total revenue rose 39.0% on an annual basis to $120.7 million from $86.9 million, and total operating expenses increased 34.8% from the prior-year period to $122.6 million from $91.0 million.

Reported net income came to a loss of $1.7 million, or a loss of 6 cents per share, compared to a loss of $2.9 million, or a loss of 10 cents per share, in the first quarter ended Nov. 19, 2014.