Zhejiang Golden Eagle Co. Ltd. said its first-quarter normalized net income was 3.1 million yuan, a fall of 28.3% from 4.3 million yuan in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin dropped to 1.5% from 1.9% in the year-earlier period.
Total revenue declined 6.5% on an annual basis to 215.3 million yuan from 230.3 million yuan, and total operating expenses decreased 7.1% from the prior-year period to 206.4 million yuan from 222.2 million yuan.
Reported net income fell year over year to 3.4 million yuan, or 1 fen per share, from 3.5 million yuan, or 1 fen per share.
As of April 30, US$1 was equivalent to 6.20 yuan.
