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Fiesta Restaurant fiscal Q1 profit climbs 21.2% YOY

Fiesta Restaurant Group Inc. said its normalized net income for the fiscal first quarter ended March 29 amounted to 40 cents per share, compared with the S&P Capital IQ consensus estimate of 38 cents per share.

EPS increased 20.1% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $10.7 million, a gain of 21.2% from $8.8 million in the prior-year period.

The normalized profit margin increased to 6.4% from 6.1% in the year-earlier period.

Total revenue climbed 12.7% year over year to $163.9 million from $145.4 million, and total operating expenses grew 11.9% on an annual basis to $146.3 million from $130.7 million.

Reported net income rose 19.3% from the prior-year period to $10.3 million, or 39 cents per share, from $8.6 million, or 33 cents per share.