Nathan's Famous Inc. said its normalized net income for the fiscal third quarter ended Dec. 27, 2015, came to 11 cents per share, a decline of 79.6% from 52 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 $467,500, a decline of 80.3% from $2.4 million in the prior-year period.
The normalized profit margin fell to 2.3% from 10.7% in the year-earlier period.
Total revenue fell 7.8% on an annual basis to $20.6 million from $22.3 million, and total operating expenses declined 13.1% from the prior-year period to $16.1 million from $18.6 million.
Reported net income declined 80.3% from the prior-year period to $444,400, or 10 cents per share, from $2.3 million, or 49 cents per share.