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Enercare Q1 profit climbs 32.6% YOY

Enercare Inc. said its normalized net income for the first quarter was 11 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS decreased 15.4% year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$10.1 million, an increase of 32.6% from C$7.6 million in the prior-year period.

The normalized profit margin fell to 7.1% from 9.3% in the year-earlier period.

Total revenue rose 72.5% year over year to C$141.7 million from C$82.2 million, and total operating expenses climbed 85.5% year over year to C$118.8 million from C$64.1 million.

Reported net income rose 12.6% year over year to C$8.0 million, or 9 cents per share, from C$7.1 million, or 12 cents per share.