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EACO Corp. fiscal Q2 profit falls YOY

EACO Corp. said its normalized net income for the fiscal second quarter ended Feb. 29 came to 13 cents per share, a decrease of 44.4% from 24 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $646,880, a decline of 44.4% from $1.2 million in the prior-year period.

The normalized profit margin fell to 1.9% from 3.4% in the year-earlier period.

Total revenue came to $34.6 million, compared with $34.4 million in the prior-year period, and total operating expenses rose from the prior-year period to $33.6 million from $32.6 million.

Reported net income decreased 35.3% on an annual basis to $712,000, or 15 cents per share, from $1.1 million, or 23 cents per share.