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Weis Markets fiscal Q2 profit falls YOY

Weis Markets Inc. said its normalized net income for the fiscal second quarter ended June 25 was 57 cents per share, a decline of 5.4% from 61 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $15.5 million, a decline of 5.4% from $16.3 million in the year-earlier period.

The normalized profit margin declined to 2.1% from 2.3% in the year-earlier period.

Total revenue rose on an annual basis to $730.4 million from $718.4 million, and total operating expenses grew from the prior-year period to $706.4 million from $692.8 million.

Reported net income decreased 8.3% year over year to $15.3 million, or 57 cents per share, from $16.6 million, or 62 cents per share.