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Bloomin' Brands profit misses consensus by 22.3% in fiscal Q4

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Bloomin' Brands profit misses consensus by 22.3% in fiscal Q4

Bloomin' Brands Inc. said its normalized net income for the fiscal fourth quarter ended Dec. 27, 2015, came to 23 cents per share, compared with the S&P Capital IQ consensus estimate of 29 cents per share.

EPS rose 32.2% year over year from 17 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $27.9 million, a gain of 25.5% from $22.2 million in the prior-year period.

The normalized profit margin rose to 2.6% from 2.0% in the year-earlier period.

Total revenue decreased 5.3% on an annual basis to $1.05 billion from $1.11 billion, and total operating expenses declined 6.5% on an annual basis to $987.7 million from $1.06 billion.

Reported net income declined 23.8% from the prior-year period to $16.7 million, or 14 cents per share, from $21.9 million, or 17 cents per share.

For the year, the company's normalized net income totaled $1.05 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.27.

EPS rose 25.5% from 84 cents in the prior year.

Normalized net income was $131.8 million, a gain of 22.8% from $107.3 million in the prior year.

Full-year total revenue fell on an annual basis to $4.38 billion from $4.44 billion, and total operating expenses fell on an annual basis to $4.10 billion from $4.20 billion.

The company said reported net income grew 39.2% on an annual basis to $126.8 million, or $1.01 per share, in the full year, from $91.1 million, or 71 cents per share.