Cyanotech Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 9 cents per share, an increase from 3 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 $545,630, an increase from $195,000 in the year-earlier period.
The normalized profit margin climbed to 9.8% from 2.6% in the year-earlier period.
Total revenue rose 18.9% year over year to $8.8 million from $7.4 million, and total operating expenses climbed 12.0% from the prior-year period to $7.9 million from $7.1 million.
Reported net income rose on an annual basis to $288,950, or 5 cents per share, from $56,590, or 1 cents per share.
