Craft Brew Alliance Inc. said its third-quarter normalized net income amounted to 3 cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

EPS decreased 25.4% year over year from 4 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $574,380, a decrease of 24.7% from $763,130 in the prior-year period.

The normalized profit margin declined to 1.0% from 1.4% in the year-earlier period.

Total revenue totaled $55.2 million, compared with $54.7 million in the prior-year period, and total operating expenses rose on an annual basis to $54.1 million from $53.3 million.

Reported net income fell 24.4% from the prior-year period to $580,290, or 3 cents per share, from $767,200, or 4 cents per share.