KingClean Electric Co. Ltd. said its first-quarter normalized net income was 19 fen per share, a gain from 19 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 70.6 million yuan, an increase from 67.7 million yuan in the prior-year period.

The normalized profit margin climbed to 7.0% from 6.6% in the year-earlier period.

Total revenue decreased on an annual basis to 1.01 billion yuan from 1.03 billion yuan, and total operating expenses declined year over year to 906.5 million yuan from 926.1 million yuan.

Reported net income increased 5.6% on an annual basis to 91.5 million yuan, or 25 fen per share, from 86.7 million yuan, or 24 fen per share.

As of May 12, US$1 was equivalent to 6.21 yuan.