Select Harvests Ltd. said its normalized net income for the fiscal second half ended June 30 amounted to 60 Australian cents per share, an increase from 9 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$46.2 million, an increase from A$5.6 million in the year-earlier period.

Total revenue increased 40.5% year over year to A$123.0 million from A$87.5 million, and total operating expenses declined 39.2% on an annual basis to A$46.3 million from A$76.2 million.

Reported net income increased on an annual basis to A$37.9 million, or 50 cents per share, from A$3.3 million, or 5 cents per share.

For the year, the company's normalized net income totaled 75 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 84 cents.

EPS rose from 28 cents in the prior year.

Normalized net income was A$52.7 million, an increase from A$16.7 million in the prior year.

Full-year total revenue grew 18.8% year over year to A$223.6 million from A$188.2 million, and total operating expenses fell 14.7% year over year to A$134.0 million from A$157.0 million.

The company said reported net income grew year over year to A$56.8 million, or 81 cents per share, in the full year, from A$21.7 million, or 36 cents per share.