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Potbelly fiscal Q1 profit climbs 47.8% YOY

Potbelly Corp. said its normalized net income for the fiscal first quarter ended March 27 was 4 cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS climbed 64.1% year over year from 3 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.1 million, an increase of 47.8% from $766,880 in the prior-year period.

The normalized profit margin rose to 1.2% from 0.9% in the year-earlier period.

Total revenue increased 11.9% year over year to $96.0 million from $85.8 million, and total operating expenses increased 11.3% from the prior-year period to $94.0 million from $84.5 million.

Reported net income rose 80.2% on an annual basis to $1.1 million, or 4 cents per share, from $593,500, or 2 cents per share.