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Innova Gaming Q2 profit climbs 78.2% YOY

Innova Gaming Group Inc. said its normalized net income for the second quarter came to 2 cents per share, compared with the S&P Capital IQ consensus estimate of 2 cents per share.

EPS climbed 66.5% year over year from 1 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $401,350, a gain of 78.2% from $225,280 in the prior-year period.

The normalized profit margin rose to 6.8% from 4.1% in the year-earlier period.

Total revenue increased 8.1% on an annual basis to $5.9 million from $5.5 million, and total operating expenses grew 15.5% on an annual basis to $5.4 million from $4.7 million.

Reported net income came to $205,180, or 1 cents per share, compared to a loss of $1.3 million, or a loss of 7 cents per share, in the year-earlier period.