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Park Lawn Q1 profit climbs 29.6% YOY

Park Lawn Corp. said its normalized net income for the first quarter came to 11 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 11 cents per share.

EPS increased 7.4% year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$636,120, a gain of 29.6% from C$490,680 in the year-earlier period.

The normalized profit margin fell to 8.9% from 9.9% in the year-earlier period.

Total revenue rose 43.7% year over year to C$7.1 million from C$5.0 million, and total operating expenses rose 43.3% year over year to C$5.8 million from C$4.0 million.

Reported net income grew 58.6% year over year to C$897,750, or 16 cents per share, from C$566,110, or 12 cents per share.