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Ruth's Hospitality fiscal Q1 profit climbs YOY

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Ruth's Hospitality fiscal Q1 profit climbs YOY

Ruth's Hospitality Group Inc. said its normalized net income for the fiscal first quarter ended March 27 was 31 cents per share, compared with the S&P Capital IQ consensus estimate of 34 cents per share.

EPS climbed 5.9% year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $10.1 million, a gain from $10.0 million in the prior-year period.

The normalized profit margin fell to 10.0% from 10.3% in the year-earlier period.

Total revenue grew year over year to $101.9 million from $97.3 million, and total operating expenses rose 5.3% from the prior-year period to $85.5 million from $81.1 million.

Reported net income grew from the prior-year period to $10.9 million, or 33 cents per share, from $10.7 million, or 31 cents per share.