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Spin Master Q2 profit climbs YOY

Spin Master Corp. said its normalized net income for the second quarter was 6 cents per share, a gain from 2 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.1 million, a gain from $1.8 million in the year-earlier period.

The normalized profit margin climbed to 4.3% from 1.7% in the year-earlier period.

Total revenue grew 19.9% on an annual basis to $127.7 million from $106.5 million, and total operating expenses grew 14.9% year over year to $117.4 million from $102.2 million.

Reported net income increased year over year to $6.3 million, or 7 cents per share, from $2.0 million, or 2 cents per share.