Tandy Leather Factory Inc. said its second-quarter normalized net income came to 19 cents per share, a gain of 35.6% from 14 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 $1.8 million, an increase of 22.1% from $1.4 million in the year-earlier period.
The normalized profit margin climbed to 9.0% from 7.3% in the year-earlier period.
Total revenue decreased on an annual basis to $19.5 million from $19.8 million, and total operating expenses decreased year over year to $16.7 million from $17.4 million.
Reported net income increased 14.1% on an annual basis to $1.8 million, or 19 cents per share, from $1.5 million, or 15 cents per share.