Guangdong Bobaolon Co. Ltd. said its fourth-quarter normalized net income was 10 fen per share, an increase from 10 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 22.1 million yuan, an increase of 38.5% from 15.9 million yuan in the prior-year period.

The normalized profit margin climbed to 12.4% from 11.6% in the year-earlier period.

Total revenue climbed 12.5% on an annual basis to 155.0 million yuan from 137.8 million yuan, and total operating expenses rose 5.8% from the prior-year period to 115.4 million yuan from 109.1 million yuan.

Reported net income increased 37.3% on an annual basis to 32.6 million yuan, or 15 fen per share, from 23.7 million yuan, or 15 fen per share.

For the year, the company's normalized net income totaled 46 fen per share, a decline of 6.6% from 49 fen per share in the prior year.

Normalized net income was 84.3 million yuan, an increase of 9.5% from 77.0 million yuan in the prior year.

Full-year total revenue increased 10.3% on an annual basis to 606.7 million yuan from 549.9 million yuan, and total operating expenses increased 10.8% on an annual basis to 458.7 million yuan from 414.1 million yuan.

The company said reported net income grew 13.0% year over year to 121.3 million yuan, or 66 fen per share, in the full year, from 107.4 million yuan, or 69 fen per share.

As of Feb. 2, US$1 was equivalent to 6.58 yuan.