Bagger Dave's Burger Tavern Inc. said its normalized net income for the fiscal third quarter ended Sept. 25 was $1.6 million, compared with a loss of $2.3 million in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin increased to negative 24.6% from negative 38.1% in the year-earlier period.
Total revenue fell 16.2% on an annual basis to $5.1 million from $6.0 million, and total operating expenses fell 21.1% year over year to $7.7 million from $9.7 million.
Reported net income came to a loss of $2.7 million, compared with a loss of $3.8 million in the prior-year period.