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Medifast profit beats consensus by 16.4% in Q2

Medifast Inc. said its second-quarter normalized net income came to 59 cents per share, compared with the S&P Capital IQ consensus estimate of 51 cents per share.

EPS increased 25.7% year over year from 47 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $7.0 million, a gain of 22.9% from $5.7 million in the prior-year period.

The normalized profit margin rose to 9.8% from 7.9% in the year-earlier period.

Total revenue decreased year over year to $71.1 million from $72.2 million, and total operating expenses declined 5.1% year over year to $60.0 million from $63.2 million.

Reported net income fell 40.9% from the prior-year period to $3.4 million, or 29 cents per share, from $5.8 million, or 48 cents per share.