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ATA Inc fiscal Q1 profit falls YOY

ATA Inc. said its normalized net income for the fiscal first quarter ended June 30 was 23 fen per share, a decline of 15.0% from 27 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 5.1 million yuan, a decline of 18.0% from 6.3 million yuan in the year-earlier period.

The normalized profit margin dropped to 6.1% from 6.8% in the year-earlier period.

Total revenue declined 8.4% year over year to 84.3 million yuan from 92.1 million yuan, and total operating expenses declined 7.8% from the prior-year period to 76.5 million yuan from 82.9 million yuan.

Reported net income fell 56.6% from the prior-year period to 4.1 million yuan, or 18 fen per share, from 9.4 million yuan, or 40 fen per share.

As of Aug. 8, US$1 was equivalent to 6.16 yuan.