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Golden Entertainment profit misses consensus by 78.3% in Q3

Golden Entertainment Inc. said its third-quarter normalized net income amounted to 3 cents per share, compared with the S&P Capital IQ consensus estimate of 15 cents per share.

EPS increased 52.7% year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $742,500, a gain of 82.5% from $406,880 in the prior-year period.

The normalized profit margin rose to 0.7% from 0.7% in the year-earlier period.

Total revenue grew 66.7% on an annual basis to $104.2 million from $62.5 million, and total operating expenses climbed 66.3% from the prior-year period to $101.3 million from $60.9 million.

Reported net income fell 55.2% year over year to $1.4 million, or 6 cents per share, from $3.0 million, or 16 cents per share.