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Park Lawn Q3 profit climbs 50.4% YOY

Park Lawn Corp. said its normalized net income for the third quarter came to 11 Canadian cents per share, an increase of 33.6% from 8 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$644,810, a gain of 50.4% from C$428,810 in the prior-year period.

The normalized profit margin rose to 8.6% from 7.8% in the year-earlier period.

Total revenue increased 37.6% on an annual basis to C$7.5 million from C$5.5 million, and total operating expenses rose 32.1% year over year to C$6.3 million from C$4.8 million.

Reported net income grew 59.2% on an annual basis to C$909,750, or 16 cents per share, from C$571,470, or 11 cents per share.