Beijing Bashi Media Co. Ltd. said its normalized net income for the first quarter amounted to 3 fen per share, a decrease of 5.7% from 3 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 26.3 million yuan, a decline from 27.6 million yuan in the year-earlier period.
The normalized profit margin increased to 4.2% from 4.1% in the year-earlier period.
Total revenue fell 7.4% year over year to 621.9 million yuan from 671.3 million yuan, and total operating expenses declined 8.3% year over year to 575.0 million yuan from 626.8 million yuan.
Reported net income came to 30.2 million yuan, or 4 fen per share, compared to 29.9 million yuan, or 4 fen per share, in the year-earlier period.
As of April 29, US$1 was equivalent to 6.20 yuan.
