Nathan's Famous Inc. said its normalized net income for the fiscal fourth quarter ended March 29 amounted to 30 cents per share, a gain of 18.4% from 26 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.4 million, an increase of 17.6% from $1.2 million in the year-earlier period.
The normalized profit margin dropped to 6.8% from 6.8% in the year-earlier period.
Total revenue grew 17.9% on an annual basis to $20.3 million from $17.2 million, and total operating expenses rose 12.3% year over year to $17.4 million from $15.5 million.
Reported net income rose 24.7% from the prior-year period to $1.5 million, or 34 cents per share, from $1.2 million, or 27 cents per share.
For the year, the company's normalized net income totaled $2.64 per share, an increase of 74.1% from $1.52 per share in the prior year.
Normalized net income was $12.1 million, a rise of 73.5% from $7.0 million in the prior year.
Full-year total revenue rose 24.3% year over year to $99.1 million from $79.8 million, and total operating expenses grew 15.0% year over year to $79.2 million from $68.8 million.
The company said reported net income grew 40.4% on an annual basis to $11.7 million, or $2.55 per share, in the full year, from $8.3 million, or $1.81 per share.
