Rocky Mountain Chocolate Factory Inc. said its normalized net income for the fiscal first quarter ended May 31 came to 10 cents per share, compared with the S&P Capital IQ consensus estimate of 24 cents per share.

EPS fell 40.1% year over year from 17 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $663,120, a decline of 38.4% from $1.1 million in the prior-year period.

The normalized profit margin declined to 6.4% from 10.6% in the year-earlier period.

Total revenue grew on an annual basis to $10.3 million from $10.2 million, and total operating expenses climbed 5.9% year over year to $8.9 million from $8.4 million.

Reported net income fell 40.5% from the prior-year period to $713,710, or 11 cents per share, from $1.2 million, or 19 cents per share.