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Good Times Restaurants fiscal Q1 loss widens 66.6% YOY

Good Times Restaurants Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to a loss of 3 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.

The per-share loss narrowed 10.6% year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $278,380, compared with a loss of $167,130 in the year-earlier period.

The normalized profit margin declined to negative 3.5% from negative 2.8% in the year-earlier period.

Total revenue grew 32.9% year over year to $7.9 million from $5.9 million, and total operating expenses grew 37.0% from the prior-year period to $8.2 million from $6.0 million.

Reported net income came to a loss of $410,000, or a loss of 4 cents per share, compared to a loss of $253,000, or a loss of 5 cents per share, in the year-earlier period.