Imvescor Restaurant Group Inc. said its normalized net income for the fiscal first quarter ended Jan. 25 was 3 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.
EPS declined 24.6% year over year from 4 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$1.8 million, a decrease of 27.3% from C$2.5 million in the prior-year period.
The normalized profit margin dropped to 16.7% from 19.7% in the year-earlier period.
Total revenue declined 9.9% on an annual basis to C$11.2 million from C$12.4 million, and total operating expenses came to C$7.8 million, compared with C$7.9 million in the year-earlier period.
Reported net income decreased 42.1% from the prior-year period to C$1.6 million, or 3 cents per share, from C$2.7 million, or 5 cents per share.
