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Luby's fiscal Q2 loss widens 32.0% YOY

Luby's Inc. said its normalized net income for the fiscal second quarter ended Feb. 11 came to a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 1 cents per share.

The per-share loss grew 31.4% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.5 million, compared with a loss of $1.1 million in the year-earlier period.

The normalized profit margin dropped to negative 1.6% from negative 1.2% in the year-earlier period.

Total revenue increased year over year to $91.0 million from $88.6 million, and total operating expenses increased on an annual basis to $92.8 million from $90.3 million.

Reported net income came to a loss of $1.2 million, or a loss of 4 cents per share, compared to a loss of $1.7 million, or a loss of 6 cents per share, in the year-earlier period.