Lindblad Expeditions Holdings Inc. said its first-quarter normalized net income came to 14 cents per share, compared with the S&P Capital IQ consensus estimate of 20 cents per share.

EPS climbed 7.1% year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.3 million, an increase of 10.5% from $5.7 million in the year-earlier period.

The normalized profit margin declined to 8.4% from 10.4% in the year-earlier period.

Total revenue climbed 11.1% on an annual basis to $61.6 million from $55.4 million, and total operating expenses climbed 7.9% from the prior-year period to $48.8 million from $45.2 million.

Reported net income increased 48.3% on an annual basis to $10.6 million, or 23 cents per share, from $7.2 million, or 16 cents per share.