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Del Frisco's Restaurant fiscal Q4 profit falls YOY

Del Frisco's Restaurant Group Inc. said its normalized net income for the fiscal fourth quarter ended Dec. 29, 2015, amounted to 31 cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

In the prior-year period, the per-share result came in at a profit of 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.3 million, a decline from $7.4 million in the prior-year period.

The normalized profit margin fell to 6.5% from 7.0% in the year-earlier period.

Total revenue increased 7.8% on an annual basis to $114.1 million from $105.8 million, and total operating expenses grew 8.9% from the prior-year period to $102.2 million from $93.9 million.

Reported net income increased 46.2% on an annual basis to $8.0 million, or 34 cents per share, from $5.5 million, or 23 cents per share.

For the year, the company's normalized net income totaled 69 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 80 cents.

EPS declined 5.3% from 73 cents in the prior year.

Normalized net income was $16.3 million, a decline of 6.2% from $17.4 million in the prior year.

Full-year total revenue grew 9.9% from the prior-year period to $331.6 million from $301.8 million, and total operating expenses increased 11.5% on an annual basis to $305.2 million from $273.7 million.

The company said reported net income fell year over year to $16.0 million, or 68 cents per share, in the full year, from $16.6 million, or 70 cents per share.