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Potbelly fiscal Q3 profit climbs 36.0% YOY

Potbelly Corp. said its normalized net income for the fiscal third quarter ended Sept. 25 came to 11 cents per share, compared with the S&P Capital IQ consensus estimate of 10 cents per share.

EPS increased 49.4% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.9 million, an increase of 36.0% from $2.1 million in the year-earlier period.

The normalized profit margin climbed to 2.8% from 2.2% in the year-earlier period.

Total revenue grew 8.1% on an annual basis to $103.8 million from $96.0 million, and total operating expenses climbed 7.1% on an annual basis to $99.1 million from $92.5 million.

Reported net income rose 27.5% on an annual basis to $1.8 million, or 7 cents per share, from $1.4 million, or 5 cents per share.