Peak Resorts Inc. said its normalized net income for the fiscal third quarter ended Jan. 31 was 27 cents per share, compared with the S&P Capital IQ consensus estimate of 40 cents per share.

EPS declined 49.7% year over year from 54 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.8 million, a decline of 41.3% from $6.4 million in the prior-year period.

The normalized profit margin declined to 9.7% from 14.0% in the year-earlier period.

Total revenue decreased 15.9% year over year to $38.7 million from $46.0 million, and total operating expenses decreased from the prior-year period to $30.0 million from $31.5 million.

Reported net income rose 13.2% year over year to $3.7 million, or 26 cents per share, from $3.3 million, or 27 cents per share.