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Beijing Bashi Media Q4 profit falls YOY

Beijing Bashi Media Co. Ltd. said its normalized net income for the fourth quarter amounted to 2 fen per share, a decline of 50.3% from 5 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 18.7 million yuan, a decline of 48.8% from 36.6 million yuan in the year-earlier period.

The normalized profit margin declined to 2.1% from 4.6% in the year-earlier period.

Total revenue rose 6.9% on an annual basis to 848.6 million yuan from 793.8 million yuan, and total operating expenses grew 9.6% from the prior-year period to 802.4 million yuan from 732.1 million yuan.

Reported net income fell 98.7% on an annual basis to 554,700 yuan, or 0 fen per share, from 43.9 million yuan, or 5 fen per share.

For the year, the company's normalized net income totaled 17 fen per share, a decline of 14.5% from 20 fen per share in the prior year.

Normalized net income was 137.5 million yuan, a decline of 13.5% from 159.0 million yuan in the prior year.

Full-year total revenue amounted to 3.01 billion yuan, compared with 3.00 billion yuan in the prior year, and total operating expenses totaled 2.74 billion yuan, compared with 2.72 billion yuan in the year-earlier period.

The company said reported net income decreased 22.5% year over year to 146.1 million yuan, or 18 fen per share, in the full year, from 188.6 million yuan, or 24 fen per share.

As of March 25, US$1 was equivalent to 6.51 yuan.