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Chefs' Warehouse profit misses consensus by 60.4% in fiscal Q1

Chefs' Warehouse Inc. said its normalized net income for the fiscal first quarter ended March 27 came to 3 cents per share, compared with the S&P Capital IQ consensus estimate of 9 cents per share.

EPS fell 20.2% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $840,000, a decrease of 20.6% from $1.1 million in the prior-year period.

The normalized profit margin fell to 0.5% from 0.6% in the year-earlier period.

Total revenue climbed 6.2% year over year to $198.9 million from $187.2 million, and total operating expenses rose 6.7% from the prior-year period to $195.7 million from $183.4 million.

Reported net income totaled $988,890, or 4 cents per share, compared to $993,580, or 4 cents per share, in the year-earlier period.