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Ten Peaks Coffee Q3 profit climbs 20.3% YOY

Ten Peaks Coffee Co. Inc. said its third-quarter normalized net income amounted to 9 Canadian cents per share, an increase of 10.3% from 8 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$796,880, an increase of 20.3% from C$662,500 in the year-earlier period.

The normalized profit margin rose to 3.8% from 3.2% in the year-earlier period.

Total revenue grew on an annual basis to C$20.8 million from C$20.5 million, and total operating expenses rose 5.9% year over year to C$19.4 million from C$18.3 million.

Reported net income rose 7.6% year over year to C$879,000, or 10 cents per share, from C$817,000, or 10 cents per share.