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Xinjiang Yilite Industry Q1 profit falls YOY

Xinjiang Yilite Industry Co. Ltd. said its first-quarter normalized net income was 16 fen per share, a decrease from 17 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 72.4 million yuan, a decline from 75.4 million yuan in the prior-year period.

The normalized profit margin dropped to 17.6% from 18.4% in the year-earlier period.

Total revenue totaled 412.4 million yuan, compared with 409.3 million yuan in the prior-year period, and total operating expenses rose on an annual basis to 297.1 million yuan from 289.4 million yuan.

Reported net income declined 22.5% from the prior-year period to 72.3 million yuan, or 16 fen per share, from 93.3 million yuan, or 21 fen per share.

As of April 27, US$1 was equivalent to 6.22 yuan.