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Galaxy Gaming swings to loss in Q4

4988306 said its fourth-quarter normalized net income was a loss of $21,300, compared with income of $5,190 in the prior-year period.

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

The normalized profit margin increased to 4.2% from 0.2% in the year-earlier period.

Total revenue grew 12.7% on an annual basis to $2.9 million from $2.6 million, and total operating expenses grew 16.1% from the prior-year period to $2.7 million from $2.3 million.

Reported net income totaled a loss of $202,940, or a loss of 1 cents per share, compared to a loss of $365,840, or a loss of 1 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled $274,680, a decrease of 36.3% from $431,170 in the prior year.

ull-year total revenue rose 11.2% year over year to $11.0 million from $9.8 million, and total operating expenses rose 17.2% on an annual basis to $ Galaxy Gaming Inc.