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Great Canadian Gaming Q3 profit climbs 18.5% YOY

Great Canadian Gaming Corp. said its third-quarter normalized net income came to 38 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 37 cents per share.

EPS rose 30.7% year over year from 29 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$23.1 million, a gain of 18.5% from C$19.5 million in the year-earlier period.

The normalized profit margin declined to 15.3% from 16.8% in the year-earlier period.

Total revenue rose 30.0% on an annual basis to C$151.2 million from C$116.3 million, and total operating expenses rose 32.4% year over year to C$104.7 million from C$79.1 million.

Reported net income increased 24.7% on an annual basis to C$27.0 million, or 44 cents per share, from C$21.7 million, or 32 cents per share.