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Zoe's Kitchen profit misses consensus by 17.3% in fiscal Q3

Zoe's Kitchen, Inc. said its normalized net income for the fiscal third quarter ended Oct. 3 amounted to 4 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

EPS fell 20.2% year over year from 5 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $780,000, a decrease of 19.9% from $973,750 in the year-earlier period.

The normalized profit margin dropped to 1.2% from 1.7% in the year-earlier period.

Total revenue grew 19.4% on an annual basis to $67.3 million from $56.4 million, and total operating expenses increased 20.5% from the prior-year period to $65.2 million from $54.1 million.

Reported net income totaled a loss of $389,180, or a loss of 2 cents per share, compared to a loss of $2.3 million, or a loss of 12 cents per share, in the year-earlier period.