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NavInfo Q4 profit climbs 81.2% YOY

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NavInfo Q4 profit climbs 81.2% YOY

NavInfo Co. Ltd. said its normalized net income for the fourth quarter came to 5 fen per share, an increase from 2 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 43.4 million yuan, a gain of 81.2% from 23.9 million yuan in the year-earlier period.

The normalized profit margin dropped to 5.6% from 7.0% in the year-earlier period.

Total revenue climbed 50.8% year over year to 518.8 million yuan from 344.0 million yuan, and total operating expenses increased 47.4% from the prior-year period to 469.7 million yuan from 318.6 million yuan.

Reported net income declined 25.2% from the prior-year period to 38.8 million yuan, or 4 fen per share, from 51.9 million yuan, or 4 fen per share.

For the year, the company's normalized net income totaled 9 fen per share, a gain of 23.7% from 8 fen per share in the prior year.

Normalized net income was 96.8 million yuan, a rise of 22.6% from 79.0 million yuan in the prior year.

Full-year total revenue increased 42.2% year over year to 1.51 billion yuan from 1.06 billion yuan, and total operating expenses grew 39.2% year over year to 1.42 billion yuan from 1.02 billion yuan.

The company said reported net income rose 10.8% year over year to 130.2 million yuan, or 13 fen per share, in the full year, from 117.5 million yuan, or 11 fen per share.

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