Capella Education Co. said its first-quarter normalized net income was 86 cents per share, compared with the S&P Capital IQ consensus estimate of 81 cents per share.

EPS decreased year over year from 88 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $10.3 million, a decrease of 6.1% from $11.0 million in the year-earlier period.

The normalized profit margin dropped to 9.8% from 10.4% in the year-earlier period.

Total revenue totaled $105.4 million, compared with $105.7 million in the prior-year period, and total operating expenses totaled $88.9 million, compared with $88.1 million in the year-earlier period.

Reported net income decreased 6.4% on an annual basis to $10.3 million, or 86 cents per share, from $11.0 million, or 88 cents per share.