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Flanigan's Enterprises fiscal Q1 profit falls YOY

Flanigan's Enterprises Inc. said its normalized net income for the fiscal first quarter ended Jan. 2 was 24 cents per share, a decrease of 24.1% from 31 cents per share in the first quarter ended Dec. 27, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $442,380, a decline of 24.1% from $583,000 in the first quarter ended Dec. 27, 2014.

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

Total revenue increased 8.4% year over year to $25.2 million from $23.3 million, and total operating expenses climbed 8.7% year over year to $23.9 million from $21.9 million.

Reported net income decreased 11.7% from the prior-year period to $624,000, or 34 cents per share, from $707,000, or 38 cents per share.