11:46 AM EDT, 11/01/2024 (MT Newswires) -- Aegis Brands ( SCUPF ) said on Friday its adjusted net income fell in the third quarter.

The company, which owns and operates St. Louis Bar and Grill and is the master franchisee for the Sweet Jesus brand, reported an adjusted profit, excluding most one-time items, of $320,000, or nil per share, dropping from $657,000, or $0.01, in the year-prior quarter.

Revenue fell 1.8% to $4.21 million, while adjusted Ebitda declined to $1.3 million from $1.6 million.

"Although we will never stop finding new ways to increase the profitability for our franchisees, we are also focusing on new store growth for the remainder of 2024 and beyond," said Steven Pelton, president and CEO of Aegis Brands ( SCUPF ). "St. Louis has been delivering strong returns for franchisees for two decades. With our help, store economics will continue to improve, and new store growth will accelerate."

Aegis shares were last seen down $0.04 to $0.38 on the Toronto Stock Exchange.

Price: 0.36, Change: -0.06, Percent Change: -14.29