Build-A-Bear Workshop Inc. said its normalized net income for the fiscal first quarter ended April 2 came to 21 cents per share, compared with the S&P Capital IQ consensus estimate of 37 cents per share.
EPS fell 20.1% year over year from 26 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.3 million, a decrease of 25.2% from $4.4 million in the year-earlier period.
The normalized profit margin fell to 3.5% from 4.7% in the year-earlier period.
Total revenue grew year over year to $95.0 million from $93.4 million, and total operating expenses increased from the prior-year period to $89.7 million from $86.4 million.
Reported net income decreased 48.6% on an annual basis to $3.4 million, or 22 cents per share, from $6.7 million, or 40 cents per share.