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Golden Entertainment swings to profit in Q4

Golden Entertainment Inc. said its fourth-quarter normalized net income amounted to 9 cents per share, compared with a loss of 4 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 $2.0 million, compared with a loss of $601,250 in the year-earlier period.

The normalized profit margin increased to 2.3% from negative 4.7% in the year-earlier period.

Total revenue rose year over year to $86.4 million from $12.8 million, and total operating expenses rose year over year to $82.0 million from $13.5 million.

Reported net income came to $23.4 million, or $1.06 per share, compared to a loss of $139,340, or a loss of 1 cents per share, in the prior-year period.

For the year, the company's normalized net income totaled 12 cents per share, compared with a loss of 15 cents per share in the prior year.

Normalized net income was $2.1 million, compared with a loss of $2.0 million in the prior year.

Full-year total revenue increased on an annual basis to $177.0 million from $55.2 million, and total operating expenses increased 197.5% on an annual basis to $171.1 million from $57.5 million.

The company said reported net income totaled $24.5 million, or $1.43 per share, in the full year, compared with a loss of $24.9 million, or a loss of $1.86 per share, the prior year.