Chongqing Fuling Zhacai Group Co. Ltd. said its fourth-quarter normalized net income was 6.2 million yuan, compared with a loss of 7.4 million yuan in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to 1.8% from negative 4.8% in the year-earlier period.
Total revenue grew 21.5% year over year to 189.2 million yuan from 155.8 million yuan, and total operating expenses climbed 7.2% from the prior-year period to 180.3 million yuan from 168.2 million yuan.
Reported net income came to 14.7 million yuan, or 2 fen per share, compared to a loss of 3.2 million yuan, or a loss of 0 fen per share, in the prior-year period.
For the year, the company's normalized net income totaled 14 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 20 fen.
EPS rose 22.0% from 12 fen in the prior year.
Normalized net income was 109.5 million yuan, an increase of 21.6% from 90.0 million yuan in the prior year.
Full-year total revenue rose on an annual basis to 930.7 million yuan from 906.4 million yuan, and total operating expenses declined on an annual basis to 768.1 million yuan from 777.5 million yuan.
The company said reported net income increased 19.2% on an annual basis to 157.4 million yuan, or 20 fen per share, in the full year, from 132.0 million yuan, or 17 fen per share.
As of March 30, US$1 was equivalent to 6.47 yuan.