Clearfield Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to 9 cents per share, compared with the S&P Capital IQ consensus estimate of 9 cents per share.
EPS rose 22.6% year over year from 8 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.3 million, an increase of 22.6% from $1.0 million in the year-earlier period.
The normalized profit margin rose to 8.0% from 7.3% in the year-earlier period.
Total revenue grew 12.2% on an annual basis to $15.7 million from $14.0 million, and total operating expenses climbed 10.8% on an annual basis to $13.7 million from $12.4 million.
Reported net income rose 24.9% on an annual basis to $1.4 million, or 10 cents per share, from $1.1 million, or 8 cents per share.
