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Flanigan's Enterprises fiscal Q1 profit climbs 54.1% YOY

Flanigan's Enterprises Inc. said its normalized net income for the fiscal first quarter ended Dec. 27, 2014, was 31 cents per share, an increase of 54.1% from 20 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 $583,000, an increase of 54.1% from $378,380 in the year-earlier period.

The normalized profit margin rose to 2.5% from 1.8% in the year-earlier period.

Total revenue increased 8.6% year over year to $23.3 million from $21.4 million, and total operating expenses climbed 8.6% on an annual basis to $21.9 million from $20.2 million.

Reported net income grew 31.4% on an annual basis to $707,000, or 38 cents per share, from $538,000, or 29 cents per share.