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Park Lawn Q1 profit climbs 51.8% YOY

Park Lawn Corp. said its normalized net income for the first quarter amounted to 15 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS climbed 37.8% year over year from 11 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$965,940, a gain of 51.8% from C$636,120 in the year-earlier period.

The normalized profit margin dropped to 8.6% from 8.9% in the year-earlier period.

Total revenue increased 58.3% on an annual basis to C$11.3 million from C$7.1 million, and total operating expenses increased 68.9% on an annual basis to C$9.8 million from C$5.8 million.

Reported net income rose 54.3% year over year to C$1.4 million, or 22 cents per share, from C$897,750, or 16 cents per share.