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Bravo Brio Restaurant fiscal Q1 profit falls 18.7% YOY

Bravo Brio Restaurant Group, Inc. said its normalized net income for the fiscal first quarter ended March 29 was 13 cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS increased year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.0 million, a decline of 18.7% from $2.5 million in the year-earlier period.

The normalized profit margin fell to 1.9% from 2.4% in the year-earlier period.

Total revenue increased 5.4% on an annual basis to $108.2 million from $102.6 million, and total operating expenses climbed 6.2% year over year to $104.5 million from $98.4 million.

Reported net income declined 10.1% on an annual basis to $2.5 million, or 16 cents per share, from $2.8 million, or 14 cents per share.