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Imvescor Restaurant fiscal Q2 profit climbs 22.4% YOY

Imvescor Restaurant Group Inc. said its normalized net income for the fiscal second quarter ended May 1 was 4 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS climbed 13.8% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$2.4 million, an increase of 22.4% from C$1.9 million in the second quarter ended April 26, 2015.

The normalized profit margin climbed to 18.4% from 17.1% in the year-earlier period.

Total revenue increased 24.0% on an annual basis to C$14.0 million from C$11.3 million, and total operating expenses increased 31.7% on an annual basis to C$10.2 million from C$7.7 million.

Reported net income fell 14.0% on an annual basis to C$2.4 million, or 4 cents per share, from C$2.8 million, or 5 cents per share.