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Galaxy Gaming Q1 profit climbs YOY

Galaxy Gaming Inc. said its first-quarter normalized net income amounted to $335,140, an increase from $72,780 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 14.0% from 2.8% in the year-earlier period.

Total revenue grew 15.5% year over year to $3.0 million from $2.6 million, and total operating expenses came to $2.2 million, compared with $2.2 million in the year-earlier period.

Reported net income increased on an annual basis to $394,560, or 1 cents per share, from $62,860, or 0 cents per share.