Shanghai Jiaoda Onlly Co. Ltd. said its first-quarter normalized net income came to 3 fen per share, a gain of 98.7% from 1 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 21.8 million yuan, a gain from 10.8 million yuan in the year-earlier period.
The normalized profit margin increased to 25.4% from 9.0% in the year-earlier period.
Total revenue declined 28.1% on an annual basis to 85.9 million yuan from 119.5 million yuan, and total operating expenses declined 16.3% from the prior-year period to 88.6 million yuan from 105.8 million yuan.
Reported net income increased year over year to 29.8 million yuan, or 4 fen per share, from 11.7 million yuan, or 2 fen per share.
As of April 24, US$1 was equivalent to 6.19 yuan.
