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Enercare Q3 profit climbs YOY

Enercare Inc. said its normalized net income for the third quarter was 16 Canadian cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS rose year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was C$15.0 million, an increase from C$5.9 million in the prior-year period.

The normalized profit margin increased to 10.3% from 7.3% in the year-earlier period.

Total revenue climbed 81.8% on an annual basis to C$145.4 million from C$80.0 million, and total operating expenses grew 87.4% year over year to C$114.8 million from C$61.3 million.

Reported net income grew on an annual basis to C$13.2 million, or 14 cents per share, from C$2.2 million, or 3 cents per share.