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Fogo de Chao fiscal Q4 profit climbs 26.0% YOY

Fogo de Chao Inc. said its normalized net income for the fiscal fourth quarter ended Jan. 3 amounted to 25 cents per share, compared with the S&P Capital IQ consensus estimate of 28 cents per share.

In the prior-year period, the per-share result was a profit of 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.2 million, an increase of 26.0% from $5.7 million in the fourth quarter ended Dec. 28, 2014.

The normalized profit margin rose to 16.0% from 8.3% in the year-earlier period.

Total revenue rose 12.8% year over year to $77.5 million from $68.7 million, and total operating expenses grew 16.2% from the prior-year period to $65.1 million from $56.0 million.

Reported net income grew from the prior-year period to $12.9 million, or 45 cents per share, from $6.5 million, or 28 cents per share.

For the year, the company's normalized net income totaled 64 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 93 cents.

EPS declined 14.6% from 76 cents in the prior year.

Normalized net income was $17.0 million, a decrease from $17.4 million in the prior year.

Full-year total revenue grew from the prior-year period to $271.6 million from $262.3 million, and total operating expenses rose 8.0% on an annual basis to $235.1 million from $217.8 million.

The company said reported net income grew 59.5% on an annual basis to $27.9 million, or $1.06 per share, in the full year, from $17.5 million, or 76 cents per share.