Malibu Boats Inc. said its normalized net income for the fiscal first quarter ended Sept. 30 was 19 cents per share, compared with the S&P Capital IQ consensus estimate of 25 cents per share.

EPS rose 54.0% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.4 million, a gain of 29.0% from $2.6 million in the prior-year period.

The normalized profit margin climbed to 6.0% from 5.6% in the year-earlier period.

Total revenue grew 20.1% on an annual basis to $57.2 million from $47.7 million, and total operating expenses grew 19.1% year over year to $49.8 million from $41.8 million.

Reported net income grew 79.7% year over year to $3.6 million, or 20 cents per share, from $2.0 million, or 9 cents per share.