Anhui Xinhua Media Co. Ltd. said its normalized net income for the fourth quarter amounted to 1 fen per share, a decline of 51.4% from 2 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 18.6 million yuan, a decline of 51.9% from 38.6 million yuan in the prior-year period.
The normalized profit margin dropped to 0.4% from 2.5% in the year-earlier period.
Total revenue climbed 12.3% on an annual basis to 1.72 billion yuan from 1.53 billion yuan, and total operating expenses grew 17.5% from the prior-year period to 1.78 billion yuan from 1.51 billion yuan.
Reported net income declined 30.6% year over year to 84.9 million yuan, or 5 fen per share, from 122.3 million yuan, or 7 fen per share.
For the year, the company's normalized net income totaled 26 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 48 fen.
EPS rose 13.1% from 23 fen in the prior year.
Normalized net income was 481.1 million yuan, a gain of 12.5% from 427.5 million yuan in the prior year.
Full-year total revenue increased 14.6% on an annual basis to 6.58 billion yuan from 5.74 billion yuan, and total operating expenses increased 16.0% year over year to 6.09 billion yuan from 5.25 billion yuan.
The company said reported net income rose 11.3% year over year to 772.8 million yuan, or 43 fen per share, in the full year, from 694.2 million yuan, or 38 fen per share.
As of April 8, US$1 was equivalent to 6.47 yuan.