Vitamin Shoppe Inc. said its normalized net income for the fiscal first quarter ended April 1 was 38 cents per share, compared with the S&P Capital IQ consensus estimate of 57 cents per share.
EPS declined 46.1% year over year from 70 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $8.7 million, a decrease of 50.4% from $17.5 million in the first quarter ended March 26, 2016.
The normalized profit margin dropped to 2.7% from 5.2% in the year-earlier period.
Total revenue fell 5.9% year over year to $316.9 million from $336.8 million, and total operating expenses decreased on an annual basis to $300.6 million from $306.6 million.
Reported net income fell 45.4% on an annual basis to $8.1 million, or 35 cents per share, from $14.8 million, or 59 cents per share.