Lindblad Expeditions Holdings Inc. said its normalized net income for the second quarter was $34.22 per share, a gain from $16.90 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.5 million, an increase of 25.7% from $4.3 million in the prior-year period.
The normalized profit margin climbed to 11.0% from 8.6% in the year-earlier period.
Total revenue fell on an annual basis to $49.5 million from $50.8 million, and total operating expenses fell from the prior-year period to $41.6 million from $42.7 million.
Reported net income grew 71.1% year over year to $8.8 million, or $55.36 per share, from $5.2 million, or $20.08 per share.