Winmark Corp. said its normalized net income for the fiscal third quarter ended Sept. 24 amounted to $1.43 per share, an increase of 14.6% from $1.24 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.2 million, a gain of 14.3% from $5.4 million in the prior-year period.

The normalized profit margin increased to 36.9% from 33.8% in the year-earlier period.

Total revenue climbed on an annual basis to $16.7 million from $16.0 million, and total operating expenses declined 5.4% from the prior-year period to $6.3 million from $6.7 million.

Reported net income rose 14.4% year over year to $6.1 million, or $1.41 per share, from $5.3 million, or $1.23 per share.