Jiangsu Lugang Culture Co. Ltd. said its normalized net income for the first quarter was 7.9 million yuan, an increase of 56.3% from 5.1 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 increased to 1.8% from 1.1% in the year-earlier period.
Total revenue climbed 7.0% on an annual basis to 497.9 million yuan from 465.4 million yuan, and total operating expenses grew 6.1% on an annual basis to 480.8 million yuan from 453.3 million yuan.
Reported net income fell 15.4% on an annual basis to 5.6 million yuan, or 1 fen per share, from 6.6 million yuan, or 1 fen per share.
As of April 29, US$1 was equivalent to 6.20 yuan.
