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Bojangles profit misses consensus by 18.9% in fiscal Q1

Bojangles' Inc. said its normalized net income for the fiscal first quarter ended March 29 came to 12 cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

EPS fell 12.5% year over year from 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.4 million, a decrease of 11.6% from $5.0 million in the year-earlier period.

The normalized profit margin dropped to 3.9% from 5.2% in the year-earlier period.

Total revenue rose 19.2% year over year to $114.6 million from $96.2 million, and total operating expenses rose 22.3% on an annual basis to $105.1 million from $86.0 million.

Reported net income declined 30.1% year over year to $3.4 million, or 9 cents per share, from $4.8 million, or 13 cents per share.