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Luby's fiscal Q3 profit falls YOY

Luby's Inc. said its normalized net income for the fiscal third quarter ended May 6 came to 5 cents per share, compared with 5 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.4 million, a decrease from $1.5 million in the year-earlier period.

The normalized profit margin fell to 1.5% from 1.5% in the year-earlier period.

Total revenue decreased on an annual basis to $94.1 million from $96.4 million, and total operating expenses fell year over year to $91.2 million from $93.9 million.

Reported net income grew 48.1% on an annual basis to $2.6 million, or 9 cents per share, from $1.8 million, or 6 cents per share.