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Flanigan's Enterprises fiscal Q2 profit climbs 38.7% YOY

Flanigan's Enterprises Inc. said its normalized net income for the fiscal second quarter ended March 28 was 43 cents per share, an increase of 38.7% from 31 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $802,000, an increase of 38.7% from $578,130 in the year-earlier period.

The normalized profit margin rose to 3.1% from 2.4% in the year-earlier period.

Total revenue grew 9.0% year over year to $25.8 million from $23.7 million, and total operating expenses grew 8.5% year over year to $23.5 million from $21.6 million.

Reported net income grew 23.9% from the prior-year period to $1.1 million, or 60 cents per share, from $907,000, or 49 cents per share.