Zhejiang Aokang Shoes Co. Ltd. said its normalized net income for the second quarter was 20 fen per share, compared with 20 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 81.4 million yuan, compared with 81.7 million yuan in the prior-year period.

The normalized profit margin climbed to 11.8% from 10.4% in the year-earlier period.

Total revenue declined 9.1% on an annual basis to 713.3 million yuan from 784.9 million yuan, and total operating expenses fell 11.3% from the prior-year period to 593.7 million yuan from 669.1 million yuan.

Reported net income declined 9.6% year over year to 98.7 million yuan, or 25 fen per share, from 109.2 million yuan, or 27 fen per share.

As of Aug. 16, US$1 was equivalent to 6.63 yuan.