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Game Digital fiscal H2 loss narrows YOY

Game Digital PLC said its normalized net income for the fiscal second half ended July 25 was a loss of 3 Great British pence per share, compared with a loss of 55 pence per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of £4.6 million, compared with a loss of £11.9 million in the prior-year period.

Total revenue grew on an annual basis to £284.5 million from £275.4 million, and total operating expenses rose from the prior-year period to £291.7 million from £285.2 million.

Reported net income came to a loss of £3.5 million, or a loss of 2 pence per share, compared to a loss of £20.8 million, or a loss of 95 pence per share, in the prior-year period.

For the year, the company's normalized net income totaled 10 pence per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 17 pence.

EPS declined 78.6% from 45 pence in the prior year.

Normalized net income was £16.3 million, an increase of 66.2% from £9.8 million in the prior year.

Full-year total revenue totaled £866.6 million, compared with £861.8 million in the prior year, and total operating expenses increased on an annual basis to £840.1 million from £828.6 million.

The company said reported net income increased year over year to £22.2 million, or 13 pence per share, in the full year, from £2.8 million, or 13 pence per share.