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Ten Peaks Coffee profit misses consensus by 44.6% in Q2

Ten Peaks Coffee Co. Inc. said its second-quarter normalized net income was 7 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

EPS climbed 72.1% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$598,750, a gain from C$260,000 in the prior-year period.

The normalized profit margin climbed to 3.3% from 1.3% in the year-earlier period.

Total revenue declined 10.7% year over year to C$18.1 million from C$20.2 million, and total operating expenses decreased 14.8% from the prior-year period to C$17.1 million from C$20.0 million.

Reported net income increased year over year to C$758,000, or 8 cents per share, from C$311,000, or 5 cents per share.