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John B. Sanfilippo & Son profit misses consensus by 29.4% in fiscal Q1

John B. Sanfilippo & Son Inc. said its normalized net income for the fiscal first quarter ended Sept. 25 was 51 cents per share, compared with the S&P Capital IQ consensus estimate of 72 cents per share.

EPS declined 15.9% year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.7 million, a decline of 15.1% from $6.7 million in the year-earlier period.

The normalized profit margin dropped to 2.8% from 3.8% in the year-earlier period.

Total revenue increased 16.0% on an annual basis to $205.0 million from $176.7 million, and total operating expenses rose 18.2% on an annual basis to $194.9 million from $164.9 million.

Reported net income decreased 12.3% year over year to $5.9 million, or 53 cents per share, from $6.8 million, or 61 cents per share.