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Red Robin fiscal Q1 profit climbs 34.3% YOY

Red Robin Gourmet Burgers Inc. said its normalized net income for the fiscal first quarter ended April 19 came to 100 cents per share, compared with the S&P Capital IQ consensus estimate of 88 cents per share.

EPS climbed 37.3% year over year from 73 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $14.2 million, an increase of 34.3% from $10.6 million in the prior-year period.

The normalized profit margin climbed to 3.6% from 3.1% in the year-earlier period.

Total revenue climbed 16.0% year over year to $394.9 million from $340.5 million, and total operating expenses rose 14.9% from the prior-year period to $371.1 million from $322.8 million.

Reported net income grew 38.4% on an annual basis to $16.6 million, or $1.16 per share, from $12.0 million, or 82 cents per share.