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Innova Gaming Q1 profit climbs YOY

Innova Gaming Group Inc. said its normalized net income for the first quarter was $516,070, a rise from $60,270 in the year-earlier period.

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

The normalized profit margin increased to 9.6% from 1.3% in the year-earlier period.

Total revenue rose 15.5% year over year to $5.4 million from $4.6 million, and total operating expenses rose 28.0% from the prior-year period to $5.4 million from $4.2 million.

Reported net income grew from the prior-year period to $863,770, or 4 cents per share, from $34,140, or 0 cents per share.