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Golden Entertainment swings to profit in Q1

Golden Entertainment Inc. said its first-quarter normalized net income was 7 cents per share, compared with a loss of 5 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.6 million, compared with a loss of $723,750 in the year-earlier period.

The normalized profit margin increased to 1.7% from negative 5.7% in the year-earlier period.

Total revenue grew year over year to $91.0 million from $12.8 million, and total operating expenses increased from the prior-year period to $87.1 million from $13.7 million.

Reported net income totaled $2.2 million, or 10 cents per share, compared to a loss of $1.7 million, or a loss of 13 cents per share, in the prior-year period.