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Innova Gaming Q3 loss widens YOY

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Innova Gaming Q3 loss widens YOY

Innova Gaming Group Inc. said its normalized net income for the third quarter was a loss of $203,010, compared with a loss of $62,720 in the year-earlier period.

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

The normalized profit margin declined to negative 3.7% from negative 1.4% in the year-earlier period.

Total revenue increased 19.3% on an annual basis to $5.3 million from $4.5 million, and total operating expenses climbed 10.2% year over year to $4.9 million from $4.5 million.

Reported net income came to a loss of $381,770, or a loss of 2 cents per share, compared to a loss of $219,780, or a loss of 1 cents per share, in the year-earlier period.