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Bowl America fiscal Q3 profit falls YOY

Bowl America Inc. said its normalized net income for the fiscal third quarter ended March 29 was 24 cents per share, a decrease 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 $1.2 million, a decrease from $1.2 million in the prior-year period.

The normalized profit margin dropped to 16.2% from 17.0% in the year-earlier period.

Total revenue rose on an annual basis to $7.5 million from $7.3 million, and total operating expenses totaled $5.7 million, compared with $5.7 million in the year-earlier period.

Reported net income declined year over year to $1.3 million, or 25 cents per share, from $1.3 million, or 25 cents per share.