Famous Dave's of America Inc. said its normalized net income for the fiscal first quarter ended March 29 amounted to 3 cents per share, compared with the S&P Capital IQ consensus estimate of 9 cents per share.
EPS decreased 76.7% year over year from 14 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $236,250, a decrease of 77.4% from $1.0 million in the prior-year period.
The normalized profit margin declined to 0.4% from 2.9% in the year-earlier period.
Total revenue decreased 8.5% year over year to $32.6 million from $35.7 million, and total operating expenses fell 5.0% year over year to $32.0 million from $33.7 million.
Reported net income declined 58.4% from the prior-year period to $213,930, or 3 cents per share, from $514,150, or 7 cents per share.
