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Pollard Banknote Q1 profit climbs 6.6% YOY

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Pollard Banknote Q1 profit climbs 6.6% YOY

Pollard Banknote Ltd said its first-quarter normalized net income amounted to 6 Canadian cents per share, a gain of 6.3% from 6 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 C$1.5 million, a gain of 6.6% from C$1.4 million in the year-earlier period.

The normalized profit margin dropped to 2.7% from 2.8% in the year-earlier period.

Total revenue climbed 7.4% year over year to C$54.4 million from C$50.7 million, and total operating expenses increased 7.6% on an annual basis to C$50.2 million from C$46.6 million.

Reported net income grew 20.4% from the prior-year period to C$1.4 million, or 6 cents per share, from C$1.2 million, or 5 cents per share.