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Diversified Restaurant Holdings fiscal Q2 loss widens YOY

Diversified Restaurant Holdings Inc. said its normalized net income for the fiscal second quarter ended June 28 was a loss of $669,540, compared with a loss of $9,450 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 5.1% from negative 0.0% in the year-earlier period.

Total revenue grew 22.9% on an annual basis to $36.9 million from $30.0 million, and total operating expenses rose 29.0% on an annual basis to $38.1 million from $29.6 million.

Reported net income came to a loss of $3.4 million, or a loss of 13 cents per share, compared to a loss of $100,500, or a loss of 0 cents per share, in the year-earlier period.