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Flanigan's Enterprises fiscal Q3 profit falls YOY

Flanigan's Enterprises Inc. said its normalized net income for the fiscal third quarter ended June 27 amounted to 32 cents per share, a decrease from 33 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $598,500, a decrease from $607,630 in the year-earlier period.

The normalized profit margin dropped to 2.4% from 2.7% in the year-earlier period.

Total revenue grew 8.7% on an annual basis to $24.7 million from $22.8 million, and total operating expenses increased 9.7% on an annual basis to $22.8 million from $20.8 million.

Reported net income declined from the prior-year period to $842,000, or 45 cents per share, from $857,000, or 46 cents per share.