Orchids Paper Products Co. said its normalized net income for the first quarter amounted to 13 cents per share, compared with the S&P Capital IQ consensus estimate of 29 cents per share.
EPS declined 54.5% year over year from 29 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.2 million, a decrease of 50.7% from $2.4 million in the prior-year period.
The normalized profit margin declined to 3.1% from 8.6% in the year-earlier period.
Total revenue grew 34.8% year over year to $37.4 million from $27.8 million, and total operating expenses climbed 48.4% on an annual basis to $35.5 million from $23.9 million.
Reported net income declined 52.6% year over year to $1.2 million, or 14 cents per share, from $2.6 million, or 32 cents per share.
