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TWC Enterprises Q2 profit climbs 31.1% YOY

TWC Enterprises Ltd. said its second-quarter normalized net income was 22 Canadian cents per share, a gain of 31.3% from 16 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$5.9 million, an increase of 31.1% from C$4.5 million in the year-earlier period.

The normalized profit margin rose to 8.3% from 6.6% in the year-earlier period.

Total revenue increased 6.4% year over year to C$72.8 million from C$68.4 million, and total operating expenses climbed on an annual basis to C$58.7 million from C$56.6 million.

Reported net income increased 25.7% on an annual basis to C$5.9 million, or 21 cents per share, from C$4.7 million, or 17 cents per share.