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Innova Gaming profit beats consensus by 21.5% in Q3

Innova Gaming Group Inc. said its third-quarter normalized net income came to $329,540, compared with a loss of $198,360 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 5.9% from negative 3.7% in the year-earlier period.

Total revenue rose 5.8% year over year to $5.6 million from $5.3 million, and total operating expenses grew 9.5% on an annual basis to $5.4 million from $4.9 million.

Reported net income totaled $300,240, or 1 cents per share, compared to a loss of $381,770, or a loss of 2 cents per share, in the prior-year period.