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Good Times Restaurants profit misses consensus by 37.8% in fiscal Q3

Good Times Restaurants Inc. said its normalized net income for the fiscal third quarter ended June 30 was 2 cents per share, compared with the S&P Capital IQ consensus estimate of 3 cents per share.

EPS fell year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $234,000, a gain of 6.6% from $219,500 in the prior-year period.

The normalized profit margin dropped to 1.3% from 1.7% in the year-earlier period.

Total revenue rose 39.6% on an annual basis to $18.1 million from $12.9 million, and total operating expenses increased 40.7% on an annual basis to $17.2 million from $12.2 million.

Reported net income rose from the prior-year period to $501,760, or 4 cents per share, from $115,350, or 1 cents per share.