XinJiang Korla Pear Co. Ltd. said its normalized net income for the first quarter was a loss of 1.1 million yuan, compared with a loss of 741,790 yuan in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to negative 8.4% from negative 3.0% in the year-earlier period.
Total revenue declined 45.2% on an annual basis to 13.6 million yuan from 24.8 million yuan, and total operating expenses declined 42.0% from the prior-year period to 15.4 million yuan from 26.6 million yuan.
Reported net income totaled a loss of 1.8 million yuan, or a loss of 1 fen per share, compared to a loss of 1.3 million yuan, or a loss of 1 fen per share, in the year-earlier period.
As of April 23, US$1 was equivalent to 6.20 yuan.
