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Olympic Entertainment Q4 profit climbs YOY

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Olympic Entertainment Q4 profit climbs YOY

Olympic Entertainment Group AS said its fourth-quarter normalized net income amounted to 3 euro cents per share, an increase from 3 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €4.4 million, an increase from €4.3 million in the prior-year period.

Total revenue climbed 10.9% on an annual basis to €44.6 million from €40.2 million, and total operating expenses increased 9.9% from the prior-year period to €36.3 million from €33.0 million.

Reported net income rose 39.7% year over year to €6.1 million, or 4 cents per share, from €4.4 million, or 3 cents per share.

For the year, the company's normalized net income totaled 12 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 17 cents.

EPS rose 9.8% from 11 cents in the prior year.

Normalized net income was €18.2 million, a gain of 9.8% from €16.6 million in the prior year.

Full-year total revenue rose 9.9% from the prior-year period to €165.2 million from €150.3 million, and total operating expenses rose 9.2% on an annual basis to €133.9 million from €122.6 million.

The company said reported net income increased 19.1% year over year to €25.7 million, or 17 cents per share, in the full year, from €21.6 million, or 14 cents per share.