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Nathan's Famous fiscal Q1 profit falls YOY

Nathan's Famous Inc. said its normalized net income for the fiscal first quarter ended June 28 was 53 cents per share, a decline of 43.0% from 93 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.5 million, a decrease of 42.6% from $4.3 million in the year-earlier period.

The normalized profit margin dropped to 8.0% from 15.5% in the year-earlier period.

Total revenue climbed 11.1% year over year to $30.7 million from $27.6 million, and total operating expenses grew 10.7% from the prior-year period to $23.0 million from $20.8 million.

Reported net income declined 43.5% from the prior-year period to $2.3 million, or 50 cents per share, from $4.1 million, or 89 cents per share.