Rocky Mountain Chocolate Factory Inc. said its normalized net income for the fiscal first quarter ended May 31 amounted to 11 cents per share, an increase of 7.6% from 10 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 $683,140, a gain from $663,120 in the prior-year period.
The normalized profit margin increased to 6.6% from 6.4% in the year-earlier period.
Total revenue totaled $10.4 million, compared with $10.3 million in the year-earlier period, and total operating expenses rose on an annual basis to $9.0 million from $8.9 million.
Reported net income increased on an annual basis to $745,800, or 12 cents per share, from $713,710, or 11 cents per share.