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Shake Shack profit misses consensus by 23.4% in fiscal Q2

Shake Shack Inc. said its normalized net income for the fiscal second quarter ended June 29 amounted to 10 cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

The per-share result swung to a profit from the prior-year loss of 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.3 million, compared with a loss of $177,000 in the second quarter ended July 1, 2015.

The normalized profit margin increased to 3.4% from negative 0.4% in the year-earlier period.

Total revenue grew 37.2% on an annual basis to $66.5 million from $48.5 million, and total operating expenses climbed 36.3% year over year to $57.5 million from $42.2 million.

Reported net income grew year over year to $3.2 million, or 14 cents per share, from $1.1 million, or 8 cents per share.