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Famous Dave's of America profit misses consensus by 34.1% in fiscal Q2

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Famous Dave's of America profit misses consensus by 34.1% in fiscal Q2

Famous Dave's of America Inc. said its normalized net income for the fiscal second quarter ended June 28 amounted to 17 cents per share, compared with the S&P Capital IQ consensus estimate of 26 cents per share.

EPS declined 55.0% year over year from 37 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.2 million, a decline of 56.6% from $2.7 million in the prior-year period.

The normalized profit margin dropped to 3.3% from 6.5% in the year-earlier period.

Total revenue decreased 10.8% year over year to $37.4 million from $41.9 million, and total operating expenses declined 5.5% year over year to $35.3 million from $37.4 million.

Reported net income decreased 77.7% year over year to $629,370, or 9 cents per share, from $2.8 million, or 39 cents per share.