Rocky Mountain Chocolate Factory Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 came to 9 cents per share, a decline of 48.7% from 18 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 $573,930, a decrease of 51.3% from $1.2 million in the year-earlier period.
The normalized profit margin dropped to 6.2% from 12.4% in the year-earlier period.
Total revenue decreased year over year to $9.3 million from $9.5 million, and total operating expenses increased from the prior-year period to $7.6 million from $7.4 million.
Reported net income decreased 11.7% from the prior-year period to $796,120, or 13 cents per share, from $901,560, or 14 cents per share.