Yotrio Group Co. Ltd. said its fourth-quarter normalized net income amounted to 2 fen per share, a decline of 60.4% from 6 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 60.5 million yuan, a decline of 52.9% from 128.5 million yuan in the prior-year period.

The normalized profit margin fell to 5.0% from 9.9% in the year-earlier period.

Total revenue declined 7.9% on an annual basis to 1.20 billion yuan from 1.30 billion yuan, and total operating expenses fell 7.4% from the prior-year period to 1.14 billion yuan from 1.23 billion yuan.

Reported net income came to a loss of 103.1 million yuan, or a loss of 4 fen per share, compared to income of 128.6 million yuan, or 6 fen per share, in the year-earlier period.

For the year, the company's normalized net income totaled 10 fen per share, a decline of 50.0% from 21 fen per share in the prior year.

Normalized net income was 224.7 million yuan, a decline of 49.5% from 445.0 million yuan in the prior year.

Full-year total revenue grew 7.1% from the prior-year period to 3.79 billion yuan from 3.54 billion yuan, and total operating expenses rose year over year to 3.52 billion yuan from 3.41 billion yuan.

The company said reported net income declined 88.2% year over year to 60.9 million yuan, or 3 fen per share, in the full year, from 517.2 million yuan, or 24 fen per share.

As of April 26, US$1 was equivalent to 6.89 yuan.