Freshpet Inc. said its normalized net income for the first quarter was a loss of 5 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 3 cents per share.
The per-share loss narrowed 84.5% year over year from 31 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.6 million, compared with a loss of $3.2 million in the prior-year period.
The normalized profit margin rose to negative 5.9% from negative 16.6% in the year-earlier period.
Total revenue increased 39.8% year over year to $27.1 million from $19.4 million, and total operating expenses rose 36.7% on an annual basis to $29.6 million from $21.7 million.
Reported net income came to a loss of $2.7 million, or a loss of 8 cents per share, compared to a loss of $7.4 million, or a loss of 72 cents per share, in the prior-year period.
