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Medifast Q3 profit climbs 11.5% YOY

Medifast Inc. said its normalized net income for the third quarter came to 47 cents per share, compared with the S&P Capital IQ consensus estimate of 45 cents per share.

EPS increased 12.2% year over year from 42 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.6 million, a gain of 11.5% from $5.1 million in the year-earlier period.

The normalized profit margin rose to 8.2% from 7.7% in the year-earlier period.

Total revenue grew year over year to $68.6 million from $65.9 million, and total operating expenses increased on an annual basis to $59.6 million from $58.0 million.

Reported net income rose 12.7% from the prior-year period to $6.1 million, or 51 cents per share, from $5.4 million, or 45 cents per share.