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Ten Peaks Coffee profit misses consensus by 57.1% in Q2

Ten Peaks Coffee Co. Inc. said its second-quarter normalized net income came to 4 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 9 cents per share.

EPS fell 83.8% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$260,000, a decrease of 83.6% from C$1.6 million in the prior-year period.

The normalized profit margin fell to 1.3% from 9.9% in the year-earlier period.

Total revenue increased 26.5% on an annual basis to C$20.2 million from C$16.0 million, and total operating expenses increased 45.4% on an annual basis to C$20.0 million from C$13.8 million.

Reported net income decreased 82.9% year over year to C$311,000, or 5 cents per share, from C$1.8 million, or 27 cents per share.