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United International Enterprises Q3 profit climbs YOY

United International Enterprises Ltd said its third-quarter normalized net income was $1.47 per share, a gain from 19 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 $5.2 million, an increase from $701,500 in the year-earlier period.

The normalized profit margin rose to 7.7% from 0.8% in the year-earlier period.

Total revenue fell 24.4% on an annual basis to $66.1 million from $87.4 million, and total operating expenses fell 31.6% from the prior-year period to $40.8 million from $59.7 million.

Reported net income came to $3.1 million, or 86 cents per share, compared to a loss of $15.7 million, or a loss of $4.34 per share, in the year-earlier period.