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Habit Restaurants swings to profit in Q2

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Habit Restaurants swings to profit in Q2

Habit Restaurants Inc. said its normalized net income for the second quarter was 6 cents per share, compared with the S&P Capital IQ consensus estimate of 6 cents per share.

The per-share result swung to a profit from the prior-year loss of $2.82.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $845,250, compared with a loss of $844,250 in the second quarter ended July 1, 2014.

The normalized profit margin increased to 0.8% from negative 2.0% in the year-earlier period.

Total revenue grew 36.7% on an annual basis to $56.7 million from $41.5 million, and total operating expenses rose 34.8% on an annual basis to $52.5 million from $38.9 million.

Reported net income totaled $664,760, or 5 cents per share.