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Ruth's Hospitality fiscal Q2 profit falls 9.1% YOY

Ruth's Hospitality Group Inc. said its normalized net income for the fiscal second quarter ended June 26 was 20 cents per share, compared with the S&P Capital IQ consensus estimate of 23 cents per share.

EPS decreased year over year from 20 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.4 million, a decrease of 9.1% from $7.0 million in the prior-year period.

The normalized profit margin dropped to 6.9% from 7.7% in the year-earlier period.

Total revenue rose on an annual basis to $92.7 million from $91.0 million, and total operating expenses rose on an annual basis to $82.2 million from $79.6 million.

Reported net income declined 10.3% from the prior-year period to $6.8 million, or 21 cents per share, from $7.6 million, or 22 cents per share.