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Rocky Mountain Chocolate Factory fiscal Q4 profit falls YOY

Rocky Mountain Chocolate Factory Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was 24 cents per share, a decrease of 32.6% from 36 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 $1.5 million, a decrease of 34.4% from $2.3 million in the prior-year period.

The normalized profit margin declined to 13.6% from 21.0% in the year-earlier period.

Total revenue totaled $11.2 million, compared with $11.1 million in the prior-year period, and total operating expenses came to $9.4 million, compared with $9.5 million in the prior-year period.

Reported net income fell 10.0% on an annual basis to $1.3 million, or 21 cents per share, from $1.5 million, or 23 cents per share.

For the year, the company's normalized net income totaled 67 cents per share, a decrease of 14.4% from 79 cents per share in the prior year.

Normalized net income was $4.3 million, a decrease of 14.7% from $5.1 million in the prior year.

Full-year total revenue grew 5.9% year over year to $41.5 million from $39.2 million, and total operating expenses rose on an annual basis to $34.7 million from $33.2 million.

The company said reported net income fell 10.6% on an annual basis to $3.9 million, or 61 cents per share, in the full year, from $4.4 million, or 68 cents per share.