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Playsafe Holding Q2 profit climbs 62.5% YOY

Playsafe Holding AS said its normalized net income for the second quarter was $852,390, a rise of 62.5% from $524,480 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 15.8% from 10.5% in the year-earlier period.

Total revenue increased 8.2% year over year to $5.4 million from $5.0 million, and total operating expenses declined 6.9% on an annual basis to $4.1 million from $4.5 million.

Reported net income increased 62.5% from the prior-year period to $1.4 million, or 1 cents per share, from $839,170, or 2 cents per share.