Zhejiang Aokang Shoes Co. Ltd. said its first-quarter normalized net income amounted to 23 fen per share, compared with 23 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 91.3 million yuan, compared with 91.6 million yuan in the prior-year period.
The normalized profit margin fell to 10.9% from 12.3% in the year-earlier period.
Total revenue grew 13.5% on an annual basis to 841.8 million yuan from 742.0 million yuan, and total operating expenses increased 16.1% on an annual basis to 710.7 million yuan from 612.2 million yuan.
Reported net income grew 8.6% year over year to 108.9 million yuan, or 27 fen per share, from 100.3 million yuan, or 25 fen per share.
As of April 24, US$1 was equivalent to 6.19 yuan.
