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Diversified Restaurant Holdings fiscal Q2 loss narrows YOY

Diversified Restaurant Holdings Inc. said its normalized net income for the fiscal second quarter ended June 26 amounted to a loss of 2 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 1 cents per share.

The per-share loss decreased 65.6% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $655,720, compared with a loss of $1.9 million in the prior-year period.

The normalized profit margin rose to 0.2% from negative 5.1% in the year-earlier period.

Total revenue grew 25.8% year over year to $46.4 million from $36.9 million, and total operating expenses increased 14.9% year over year to $46.0 million from $40.1 million.

Reported net income totaled a loss of $263,790, or a loss of 1 cents per share, compared to a loss of $3.4 million, or a loss of 13 cents per share, in the prior-year period.