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Xi'an Catering Q4 loss narrows YOY

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Xi'an Catering Q4 loss narrows YOY

Xi'an Catering Co. Ltd. said its normalized net income for the fourth quarter was a loss of 3 fen per share, compared with a loss of 4 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 a loss of 12.9 million yuan, compared with a loss of 20.1 million yuan in the year-earlier period.

The normalized profit margin increased to negative 13.7% from negative 14.3% in the year-earlier period.

Total revenue fell 6.2% on an annual basis to 131.8 million yuan from 140.6 million yuan, and total operating expenses grew 11.4% on an annual basis to 157.0 million yuan from 141.0 million yuan.

Reported net income totaled a loss of 20.4 million yuan, or a loss of 4 fen per share, compared to income of 4.9 million yuan, or 1 fen per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 5 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 6 fen.

EPS was a loss of 2 fen in the prior year.

Normalized net income was a loss of 24.6 million yuan, compared with a loss of 10.4 million yuan in the prior year.

Full-year total revenue decreased 8.6% from the prior-year period to 499.0 million yuan from 545.8 million yuan, and total operating expenses fell on an annual basis to 539.0 million yuan from 560.4 million yuan.

The company said reported net income totaled a loss of 31.6 million yuan, or a loss of 6 fen per share, in the full year, compared with income of 11.1 million yuan, or 2 fen per share, the prior year.

As of March 24, US$1 was equivalent to 6.52 yuan.