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Shake Shack swings to profit in fiscal Q1

Shake Shack Inc. said its normalized net income for the fiscal first quarter ended March 30 amounted to 5 cents per share, compared with the S&P Capital IQ consensus estimate of 5 cents per share.

The per-share result swung to a profit from the prior-year loss of 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.0 million, compared with a loss of $288,630 in the first quarter ended April 1, 2015.

The normalized profit margin rose to 1.9% from negative 0.8% in the year-earlier period.

Total revenue climbed 43.3% year over year to $54.2 million from $37.8 million, and total operating expenses rose 37.6% year over year to $49.5 million from $35.9 million.

Reported net income totaled $1.5 million, or 7 cents per share, compared to a loss of $12.7 million, or a loss of $1.06 per share, in the first quarter ended April 1, 2015.