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TWC Enterprises Q2 profit climbs 59.3% YOY

TWC Enterprises Ltd. said its normalized net income for the second quarter was 17 Canadian cents per share, a gain of 58.9% from 11 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$4.5 million, an increase of 59.3% from C$2.8 million in the year-earlier period.

The normalized profit margin increased to 6.6% from 4.4% in the year-earlier period.

Total revenue increased 6.5% on an annual basis to C$68.4 million from C$64.2 million, and total operating expenses climbed year over year to C$56.6 million from C$54.7 million.

Reported net income increased 54.9% on an annual basis to C$4.6 million, or 17 cents per share, from C$2.9 million, or 11 cents per share.