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United International Enterprises Q3 profit climbs 28.1% YOY

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United International Enterprises Q3 profit climbs 28.1% YOY

United International Enterprises Ltd said its normalized net income for the third quarter amounted to $1.86 per share, a gain of 30.5% from $1.42 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $6.6 million, an increase of 28.1% from $5.1 million in the prior-year period.

The normalized profit margin rose to 9.1% from 7.7% in the year-earlier period.

Total revenue increased 8.7% on an annual basis to $71.8 million from $66.1 million, and total operating expenses rose 12.0% on an annual basis to $46.2 million from $41.3 million.

Reported net income rose from the prior-year period to $28.6 million, or $8.10 per share, from $2.9 million, or 80 cents per share.