Lindblad Expeditions Holdings Inc. said its normalized net income for the third quarter amounted to 10 cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS fell 9.7% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.8 million, a decrease of 9.5% from $5.3 million in the year-earlier period.

The normalized profit margin declined to 6.7% from 9.0% in the year-earlier period.

Total revenue climbed 20.9% on an annual basis to $70.8 million from $58.6 million, and total operating expenses increased 28.1% from the prior-year period to $60.6 million from $47.3 million.

Reported net income increased 60.3% from the prior-year period to $7.4 million, or 16 cents per share, from $4.6 million, or 10 cents per share.