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Fogo de Chao profit misses consensus by 20.0% in fiscal Q1

Fogo de Chao Inc. said its normalized net income for the fiscal first quarter ended April 3 was 19 cents per share, compared with the S&P Capital IQ consensus estimate of 23 cents per share.

EPS climbed 14.0% year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.4 million, a gain of 42.8% from $3.8 million in the first quarter ended March 29, 2015.

The normalized profit margin climbed to 8.0% from 5.8% in the year-earlier period.

Total revenue rose 6.0% on an annual basis to $68.9 million from $65.0 million, and total operating expenses increased 7.3% from the prior-year period to $59.5 million from $55.4 million.

Reported net income rose 31.5% year over year to $6.1 million, or 21 cents per share, from $4.6 million, or 20 cents per share.