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Pizza Pizza Royalty profit misses consensus by 27.1% in Q1

Pizza Pizza Royalty Corp. said its normalized net income for the first quarter was 16 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 22 cents per share.

EPS climbed year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$4.9 million, an increase from C$4.7 million in the prior-year period.

The normalized profit margin increased to 58.4% from 58.1% in the year-earlier period.

Total revenue rose year over year to C$8.4 million from C$8.1 million, and total operating expenses totaled C$125,000, compared with C$124,000 in the year-earlier period.

Reported net income rose year over year to C$6.5 million, or 21 cents per share, from C$6.3 million, or 21 cents per share.