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Great Canadian Gaming Q2 profit climbs 15.2% YOY

Great Canadian Gaming Corp. said its second-quarter normalized net income amounted to 31 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 31 cents per share.

EPS increased 30.5% year over year from 24 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$19.7 million, a gain of 15.2% from C$17.1 million in the prior-year period.

The normalized profit margin dropped to 14.2% from 15.3% in the year-earlier period.

Total revenue rose 25.1% on an annual basis to C$140.2 million from C$112.1 million, and total operating expenses climbed 30.0% from the prior-year period to C$99.7 million from C$76.7 million.

Reported net income grew 17.7% on an annual basis to C$22.7 million, or 36 cents per share, from C$19.3 million, or 27 cents per share.