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Evolution Gaming Q4 profit climbs YOY

Evolution Gaming Group AB said its normalized net income for the fourth quarter came to 20 euro cents per share, compared with the S&P Capital IQ consensus estimate of 18 cents per share.

EPS climbed year over year from 9 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €7.2 million, a gain from €3.0 million in the year-earlier period.

The normalized profit margin fell to 20.6% from 22.0% in the year-earlier period.

Total revenue rose 70.9% on an annual basis to €23.6 million from €13.8 million, and total operating expenses climbed 35.0% year over year to €12.1 million from €8.9 million.

Reported net income rose 78.7% year over year to €7.2 million, or 19 cents per share, from €4.0 million, or 11 cents per share.

For the year, the company's normalized net income totaled 44 cents per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 64 cents.

EPS rose 77.3% from 25 cents in the prior year.

Normalized net income was €15.7 million, an increase of 81.7% from €8.6 million in the prior year.

Full-year total revenue increased 57.3% from the prior-year period to €76.4 million from €48.5 million, and total operating expenses rose 47.6% on an annual basis to €51.3 million from €34.7 million.

The company said reported net income increased 64.0% on an annual basis to €20.1 million, or 56 cents per share, in the full year, from €12.3 million, or 35 cents per share.