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Golden Entertainment swings to profit in fiscal Q2

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According to Market Intelligence, December 2022

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Golden Entertainment swings to profit in fiscal Q2

Golden Entertainment Inc. said its normalized net income for the fiscal second quarter ended June 28 was 3 cents per share, compared with a loss of 4 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 $351,880, compared with a loss of $590,000 in the year-earlier period.

The normalized profit margin rose to 1.1% from negative 4.2% in the year-earlier period.

Total revenue climbed 8.7% on an annual basis to $15.3 million from $14.1 million, and total operating expenses fell from the prior-year period to $14.6 million from $14.8 million.

Reported net income totaled a loss of $133,920, or a loss of 1 cents per share, compared to income of $57,000, or 0 cents per share, in the prior-year period.