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Good Times Restaurants fiscal Q1 loss widens YOY

Good Times Restaurants Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was a loss of 6 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 6 cents per share.

The per-share loss grew year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $766,750, compared with a loss of $278,380 in the year-earlier period.

The normalized profit margin dropped to negative 5.5% from negative 3.5% in the year-earlier period.

Total revenue rose 76.2% year over year to $13.8 million from $7.9 million, and total operating expenses rose 79.6% on an annual basis to $14.8 million from $8.2 million.

Reported net income totaled a loss of $1.1 million, or a loss of 9 cents per share, compared to a loss of $410,000, or a loss of 4 cents per share, in the year-earlier period.