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Galaxy Gaming Q3 profit climbs YOY

Galaxy Gaming Inc. said its third-quarter normalized net income amounted to $508,720, an increase from $132,980 in the prior-year period.

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

The normalized profit margin rose to 16.3% from 4.8% in the year-earlier period.

Total revenue grew 15.9% year over year to $3.2 million from $2.8 million, and total operating expenses declined 6.2% on an annual basis to $2.2 million from $2.3 million.

Reported net income increased year over year to $789,310, or 2 cents per share, from $119,710, or 0 cents per share.