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Weis Markets fiscal Q3 profit falls YOY

Weis Markets Inc. said its normalized net income for the fiscal third quarter ended Sept. 24 amounted to 39 cents per share, a decrease of 15.1% from 45 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $10.4 million, a decrease of 15.1% from $12.2 million in the prior-year period.

The normalized profit margin fell to 1.4% from 1.7% in the year-earlier period.

Total revenue increased on an annual basis to $743.0 million from $711.9 million, and total operating expenses rose 5.0% on an annual basis to $727.0 million from $692.3 million.

Reported net income fell 16.9% on an annual basis to $10.6 million, or 40 cents per share, from $12.8 million, or 48 cents per share.