Paladin Labs Inc. (PLB.TO,PLB.OB) Thursday reported lower profit for the first quarter, influenced by higher expenses, in spite of a revenue rise. Earnings per share were lower than analyst expectations.
For the quarter the firm posted net income attributable to shareholders of C$10.77 million, down from C$11.32 million reported last year. On a per share basis earnings totaled C$0.51 versus C$0.54 last year.
Four analysts on average polled by Thomson Reuters estimated earnings per share of C$0.53 for the quarter. Analyst estimates typically exclude one-time items.
Revenue for the period was C$68.96 million, up from C$38.55 million a year earlier. Analysts were looking for revenue of C$59.56 million for the period.
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