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Blackcow Food Q4 loss widens YOY

Visionox Technology Inc. said its normalized net income for the fourth quarter was a loss of 13 fen per share, compared with a loss of 2 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 a loss of 59.1 million yuan, compared with a loss of 3.5 million yuan in the year-earlier period.

The normalized profit margin dropped to negative 57.7% from negative 2.0% in the year-earlier period.

Total revenue fell 44.6% year over year to 97.2 million yuan from 175.6 million yuan, and total operating expenses climbed 11.5% on an annual basis to 187.7 million yuan from 168.3 million yuan.

Reported net income came to a loss of 482.4 million yuan, or a loss of 1.04 yuan per share, compared to income of 9.8 million yuan, or 4 fen per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 33 fen per share, compared with 12 fen per share in the prior year.

Normalized net income was a loss of 152.5 million yuan, compared with income of 47.5 million yuan in the prior year.

Full-year total revenue decreased 26.2% from the prior-year period to 430.5 million yuan from 583.3 million yuan, and total operating expenses grew 14.0% on an annual basis to 651.6 million yuan from 571.7 million yuan.

The company said reported net income came to a loss of 641.6 million yuan, or a loss of 1.37 yuan per share, in the full year, compared with income of 12.3 million yuan, or 3 fen per share, the prior year.

As of April 14, US$1 was equivalent to 6.49 yuan.