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Goldlok Toys Holdings swings to profit in Q4

Goldlok Toys Holdings (Guangdong) Co. Ltd. said its normalized net income for the fourth quarter came to 7.4 million yuan, compared with a loss of 4.0 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin climbed to 8.5% from negative 5.9% in the year-earlier period.

Total revenue increased 29.7% year over year to 87.4 million yuan from 67.4 million yuan, and total operating expenses grew 6.3% on an annual basis to 81.7 million yuan from 76.9 million yuan.

Reported net income came to 9.7 million yuan, or 1 fen per share, compared to a loss of 6.1 million yuan, or a loss of 1 fen per share, in the prior-year period.

For the year, the company's normalized net income totaled 4 fen per share, an increase of 18.3% from 4 fen per share in the prior year.

Normalized net income was 41.9 million yuan, a gain of 18.4% from 35.4 million yuan in the prior year.

Full-year total revenue totaled 414.4 million yuan, compared with 417.0 million yuan in the prior year, and total operating expenses decreased year over year to 369.9 million yuan from 374.7 million yuan.

The company said reported net income increased 22.0% year over year to 55.9 million yuan, or 6 fen per share, in the full year, from 45.8 million yuan, or 5 fen per share.

As of April 8, US$1 was equivalent to 6.47 yuan.