Operating IncomeOperating income was $45.3 million, or 7.2% of total revenue, in the first quarter of fiscal 2013 compared with $44.6 million, or 7.5% of total revenue, in the first quarter of the prior year. Adjusted for proxy contest and severance expenses, adjusted operating income was $49.2 million, or 7.8% of total revenue, in the first quarter of fiscal 2013, compared with adjusted operating income of $46.6 million, or 7.8% of total revenue, in the prior year quarter. Operating income in the first quarter of the prior year included a net benefit of $5.5 million, or 0.9% of total revenue, resulting collectively from a favorable premium adjustment related to health insurance, a reduction in worker’s compensation expense and a favorable litigation settlement, partially offset by expenses related to a non-annual companywide managers’ conference.
Cracker Barrel Reports Results For First Quarter Fiscal 2013
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