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Gamehost Q4 profit falls YOY

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Gamehost Q4 profit falls YOY

Gamehost Inc. said its fourth-quarter normalized net income amounted to 16 Canadian cents per share, a decline of 22.0% from 21 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$4.0 million, a decline of 22.3% from C$5.2 million in the prior-year period.

The normalized profit margin dropped to 20.6% from 23.6% in the year-earlier period.

Total revenue fell 11.0% on an annual basis to C$19.5 million from C$21.9 million, and total operating expenses fell on an annual basis to C$12.3 million from C$12.9 million.

Reported net income declined 35.5% on an annual basis to C$4.9 million, or 20 cents per share, from C$7.6 million, or 30 cents per share.

For the year, the company's normalized net income totaled 67 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 85 cents.

EPS declined 10.5% from 75 cents in the prior year.

Normalized net income was C$16.3 million, a decline of 12.7% from C$18.6 million in the prior year.

Full-year total revenue fell 7.5% on an annual basis to C$77.4 million from C$83.7 million, and total operating expenses declined year over year to C$48.0 million from C$49.3 million.

The company said reported net income fell 15.7% year over year to C$19.8 million, or 82 cents per share, in the full year, from C$23.5 million, or 95 cents per share.