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Western Capital Resources Q2 profit climbs YOY

Western Capital Resources Inc. said its second-quarter normalized net income amounted to 19 cents per share, an increase from 9 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 $1.8 million, a gain from $535,310 in the year-earlier period.

Total revenue grew year over year to $27.2 million from $12.9 million, and total operating expenses climbed from the prior-year period to $24.2 million from $11.9 million.

Reported net income increased year over year to $1.8 million, or 19 cents per share, from $425,790, or 7 cents per share.