Recipe Unlimited Corp. said its normalized net income for the fiscal first quarter ended March 29 came to 13 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 11 cents per share.
EPS declined 22.8% year over year from 17 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$4.8 million, a gain of 48.5% from C$3.2 million in the first quarter ended April 1, 2014.
The normalized profit margin climbed to 6.5% from 5.0% in the year-earlier period.
Total revenue grew 14.4% year over year to C$74.0 million from C$64.7 million, and total operating expenses rose 10.6% from the prior-year period to C$56.5 million from C$51.1 million.
Reported net income increased 80.8% on an annual basis to C$6.3 million, or 17 cents per share, from C$3.5 million, or 18 cents per share.
