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Bravo Brio Restaurant profit misses consensus by 32.5% in fiscal Q4

Bravo Brio Restaurant Group, Inc. said its normalized net income for the fiscal fourth quarter ended Dec. 27, 2015, was 13 cents per share, compared with the S&P Capital IQ consensus estimate of 19 cents per share.

EPS decreased year over year from 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.0 million, a decline of 24.7% from $2.6 million in the year-earlier period.

The normalized profit margin declined to 1.8% from 2.4% in the year-earlier period.

Total revenue totaled $107.3 million, compared with $106.6 million in the prior-year period, and total operating expenses increased from the prior-year period to $103.8 million from $101.9 million.

Reported net income came to a loss of $2.7 million, or a loss of 18 cents per share, compared to income of $3.8 million, or 20 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled 47 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 65 cents.

EPS rose 4.9% from 45 cents in the prior year.

Normalized net income was $7.4 million, a fall of 15.5% from $8.8 million in the prior year.

Full-year total revenue rose from the prior-year period to $424.0 million from $408.3 million, and total operating expenses rose on an annual basis to $410.6 million from $392.9 million.

The company said reported net income decreased 61.1% on an annual basis to $4.6 million, or 29 cents per share, in the full year, from $11.8 million, or 60 cents per share.