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Wingstop fiscal Q1 profit falls YOY

Wingstop Inc. said its normalized net income for the fiscal first quarter ended March 28 was 5 cents per share, a decline of 53.2% from 11 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 $2.6 million, a decrease of 12.9% from $3.0 million in the prior-year period.

The normalized profit margin increased to 17.9% from 17.8% in the year-earlier period.

Total revenue rose 14.1% on an annual basis to $19.0 million from $16.7 million, and total operating expenses increased 29.3% on an annual basis to $14.1 million from $10.9 million.

Reported net income decreased 15.4% on an annual basis to $2.4 million, or 5 cents per share, from $2.9 million, or 11 cents per share.