Ningbo Shuanglin Auto Parts Co. Ltd. said its fourth-quarter normalized net income came to 12 fen per share, a gain of 16.2% from 10 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 46.1 million yuan, an increase of 52.9% from 30.1 million yuan in the year-earlier period.

The normalized profit margin declined to 5.6% from 6.4% in the year-earlier period.

Total revenue increased 54.7% year over year to 722.9 million yuan from 467.4 million yuan, and total operating expenses increased 56.7% year over year to 634.1 million yuan from 404.6 million yuan.

Reported net income rose 50.9% on an annual basis to 67.3 million yuan, or 17 fen per share, from 44.6 million yuan, or 15 fen per share.

For the year, the company's normalized net income totaled 43 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 63 fen.

EPS rose 37.0% from 32 fen in the prior year.

Normalized net income was 170.6 million yuan, a rise of 86.0% from 91.7 million yuan in the prior year.

Full-year total revenue grew 65.1% on an annual basis to 2.47 billion yuan from 1.50 billion yuan, and total operating expenses increased 63.4% year over year to 2.16 billion yuan from 1.32 billion yuan.

The company said reported net income grew 83.0% on an annual basis to 243.3 million yuan, or 62 fen per share, in the full year, from 133.0 million yuan, or 46 fen per share.

As of April 12, US$1 was equivalent to 6.47 yuan.