Natural Grocers by Vitamin Cottage Inc. said its normalized net income for the fiscal third quarter ended June 30 amounted to 18 cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

EPS climbed 20.1% year over year from 15 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.0 million, an increase of 20.2% from $3.4 million in the year-earlier period.

The normalized profit margin rose to 2.5% from 2.5% in the year-earlier period.

Total revenue rose 18.4% on an annual basis to $158.7 million from $134.0 million, and total operating expenses rose 18.3% on an annual basis to $151.4 million from $128.0 million.

Reported net income rose 26.8% on an annual basis to $4.3 million, or 19 cents per share, from $3.4 million, or 15 cents per share.