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Ever-Glory International Q4 profit climbs 49.4% YOY

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Ever-Glory International Q4 profit climbs 49.4% YOY

Ever-Glory International Group Inc. said its normalized net income for the fourth quarter came to 28 cents per share, an increase of 49.4% from 19 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.1 million, an increase of 49.4% from $2.8 million in the year-earlier period.

The normalized profit margin increased to 3.2% from 2.2% in the year-earlier period.

Total revenue came to $129.2 million, compared with $128.5 million in the year-earlier period, and total operating expenses totaled $124.5 million, compared with $123.7 million in the year-earlier period.

Reported net income rose 39.9% year over year to $4.7 million, or 32 cents per share, from $3.4 million, or 22 cents per share.

For the year, the company's normalized net income totaled 79 cents per share, a decrease of 14.0% from 92 cents per share in the prior year.

Normalized net income was $11.7 million, a decline of 14.0% from $13.7 million in the prior year.

Full-year total revenue fell 8.4% year over year to $421.4 million from $460.1 million, and total operating expenses decreased 7.7% year over year to $404.6 million from $438.3 million.

The company said reported net income fell 17.1% year over year to $13.6 million, or 92 cents per share, in the full year, from $16.4 million, or $1.11 per share.