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Ruth's Hospitality fiscal Q3 profit climbs 30.2% YOY

Ruth's Hospitality Group Inc. said its normalized net income for the fiscal third quarter ended Sept. 25 amounted to 10 cents per share, compared with the S&P Capital IQ consensus estimate of 10 cents per share.

EPS rose 40.8% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.2 million, an increase of 30.2% from $2.5 million in the year-earlier period.

The normalized profit margin climbed to 3.9% from 3.1% in the year-earlier period.

Total revenue climbed on an annual basis to $83.8 million from $80.3 million, and total operating expenses rose from the prior-year period to $78.2 million from $76.1 million.

Reported net income increased 27.1% on an annual basis to $3.5 million, or 11 cents per share, from $2.7 million, or 8 cents per share.