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Zoe's Kitchen swings to profit in fiscal Q1


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Zoe's Kitchen swings to profit in fiscal Q1

Zoe's Kitchen, Inc. said its normalized net income for the fiscal first quarter ended April 20 was 3 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.

The per-share result swung to a profit from the prior-year loss of 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $608,130, compared with a loss of $5.1 million in the prior-year period.

The normalized profit margin climbed to 1.0% from negative 11.0% in the year-earlier period.

Total revenue climbed 36.2% year over year to $63.0 million from $46.3 million, and total operating expenses climbed 15.8% on an annual basis to $61.1 million from $52.7 million.

Reported net income totaled $780,790, or 4 cents per share, compared to a loss of $10.0 million, or a loss of 76 cents per share, in the prior-year period.