Rocky Mountain Chocolate Factory Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2015, came to 7 cents per share, a decline of 52.6% from 15 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $425,280, a decline of 55.3% from $950,940 in the prior-year period.
The normalized profit margin fell to 4.3% from 9.0% in the year-earlier period.
Total revenue decreased 7.1% on an annual basis to $9.8 million from $10.6 million, and total operating expenses declined 5.0% year over year to $8.6 million from $9.0 million.
Reported net income decreased 56.0% on an annual basis to $421,550, or 7 cents per share, from $957,130, or 15 cents per share.