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Stingray Digital fiscal Q3 profit climbs YOY

Stingray Group Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was 4 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 4 cents per share.

EPS increased 88.9% year over year from 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$1.8 million, a gain from C$646,250 in the prior-year period.

The normalized profit margin increased to 7.9% from 3.5% in the year-earlier period.

Total revenue grew 24.6% on an annual basis to C$23.1 million from C$18.5 million, and total operating expenses increased 23.2% from the prior-year period to C$19.9 million from C$16.2 million.

Reported net income grew year over year to C$3.2 million, or 6 cents per share, from C$1.5 million, or 4 cents per share.