China Education Resources Inc. said its normalized net income for the third quarter amounted to $285,110, a gain of 15.1% from $247,600 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 14.9% from 10.3% in the year-earlier period.
Total revenue decreased 20.7% year over year to $1.9 million from $2.4 million, and total operating expenses decreased 32.9% on an annual basis to $1.3 million from $1.9 million.
Reported net income increased 38.4% year over year to $511,410, or 1 cents per share, from $369,440, or 1 cents per share.