Freshpet Inc. said its first-quarter normalized net income amounted to a loss of 3 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 5 cents per share.
The per-share loss decreased 31.8% year over year from 5 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.1 million, compared with a loss of $1.6 million in the year-earlier period.
The normalized profit margin rose to negative 3.5% from negative 5.9% in the year-earlier period.
Total revenue climbed 16.3% year over year to $31.5 million from $27.1 million, and total operating expenses grew 12.1% from the prior-year period to $33.1 million from $29.5 million.
Reported net income totaled a loss of $1.7 million, or a loss of 5 cents per share, compared to a loss of $2.7 million, or a loss of 8 cents per share, in the prior-year period.