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Enercare profit beats consensus by 44.9% in Q2

Enercare Inc. said its second-quarter normalized net income came to 16 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 11 cents per share.

EPS increased 15.8% year over year from 14 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$14.8 million, an increase of 81.3% from C$8.2 million in the prior-year period.

The normalized profit margin fell to 10.2% from 11.0% in the year-earlier period.

Total revenue climbed 82.4% year over year to C$134.9 million from C$74.0 million, and total operating expenses rose 91.0% year over year to C$105.1 million from C$55.0 million.

Reported net income grew on an annual basis to C$16.3 million, or 18 cents per share, from C$7.5 million, or 13 cents per share.