Rocky Mountain Chocolate Factory Inc., the Colorado-based premium chocolate producer, has posted a 24% rise in first-quarter net income from US$752,585, or 11 cents a share, to $930,541, or 14 cents a share.

The company attributed the rise in net income for the quarter to the end of May to an increase in the number of franchise stores in operation as well as improved sales outside of its franchises.

Revenues for the quarter rose by 26% from $5.37m to $6.77m. At the end of the first quarter, the company had 285 franchised outlets in operation against 244 at the same time last year.