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Olympic Entertainment Q3 profit climbs 77.1% YOY

Olympic Entertainment Group AS said its normalized net income for the third quarter was 6 euro cents per share, a gain of 78.5% from 3 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 €9.3 million, a gain of 77.1% from €5.3 million in the prior-year period.

The normalized profit margin climbed to 30.8% from 13.2% in the year-earlier period.

Total revenue grew 25.5% on an annual basis to €50.1 million from €39.9 million, and total operating expenses climbed 67.2% from the prior-year period to €52.3 million from €31.3 million.

Reported net income increased 78.2% year over year to €13.9 million, or 9 cents per share, from €7.8 million, or 5 cents per share.