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TWC Enterprises Q3 profit climbs 18.2% YOY

TWC Enterprises Ltd. said its third-quarter normalized net income was 62 Canadian cents per share, an increase of 18.0% from 53 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$16.7 million, a gain of 18.2% from C$14.2 million in the prior-year period.

The normalized profit margin increased to 16.9% from 15.6% in the year-earlier period.

Total revenue grew 9.1% on an annual basis to C$99.3 million from C$91.0 million, and total operating expenses climbed 6.2% from the prior-year period to C$66.3 million from C$62.4 million.

Reported net income increased 22.4% from the prior-year period to C$17.8 million, or 66 cents per share, from C$14.5 million, or 54 cents per share.