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Planet Fitness Q1 profit climbs 14.2% YOY

Planet Fitness Inc. said its first-quarter normalized net income amounted to $5.4 million, a rise of 14.2% from $4.7 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 7.0% from 8.2% in the year-earlier period.

Total revenue climbed 33.6% on an annual basis to $76.9 million from $57.6 million, and total operating expenses increased 46.4% from the prior-year period to $62.6 million from $42.8 million.

Reported net income totaled $8.4 million, compared with $6.0 million in the prior-year period.