Zhejiang Yinlun Machinery Co. Ltd. said its normalized net income for the first quarter came to 7 fen per share, a gain of 44.9% from 5 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 44.1 million yuan, an increase of 41.2% from 31.2 million yuan in the prior-year period.
The normalized profit margin increased to 6.6% from 5.5% in the year-earlier period.
Total revenue rose 18.3% on an annual basis to 668.8 million yuan from 565.4 million yuan, and total operating expenses climbed 14.9% from the prior-year period to 582.4 million yuan from 507.0 million yuan.
Reported net income grew 29.9% year over year to 50.9 million yuan, or 8 fen per share, from 39.2 million yuan, or 6 fen per share.
As of April 28, US$1 was equivalent to 6.20 yuan.
