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Shineco fiscal Q2 profit climbs 16.8% YOY

Shineco Inc. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, came to 13 cents per share, a gain of 16.8% from 11 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.4 million, a gain of 16.8% from $2.1 million in the prior-year period.

The normalized profit margin increased to 19.9% from 19.2% in the year-earlier period.

Total revenue rose 12.1% on an annual basis to $12.1 million from $10.8 million, and total operating expenses grew 8.0% year over year to $8.7 million from $8.1 million.

Reported net income grew 26.7% from the prior-year period to $3.7 million, or 18 cents per share, from $2.9 million, or 15 cents per share.