Cacola Furniture International Ltd said its normalized net income for the third quarter came to 462,500 yuan, a fall of 84.4% from 3.0 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 declined to 3.1% from 13.2% in the year-earlier period.
Total revenue decreased 33.0% year over year to 15.1 million yuan from 22.5 million yuan, and total operating expenses fell 12.8% year over year to 14.4 million yuan from 16.5 million yuan.
Reported net income fell 84.5% from the prior-year period to 735,000 yuan, or 0 fen per share, from 4.8 million yuan, or 1 fen per share.
As of Nov. 14, US$1 was equivalent to 6.85 yuan.