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Andrew Peller fiscal Q1 profit climbs 65.0% YOY

Andrew Peller Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 13 Canadian cents per share, an increase of 65.0% from 8 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 C$5.7 million, a gain of 65.0% from C$3.5 million in the prior-year period.

The normalized profit margin climbed to 6.9% from 4.4% in the year-earlier period.

Total revenue increased year over year to C$83.1 million from C$79.5 million, and total operating expenses increased from the prior-year period to C$72.6 million from C$71.6 million.

Reported net income grew 67.5% from the prior-year period to C$6.7 million, or 16 cents per share, from C$4.0 million, or 9 cents per share.