Fuxin Dare Automotive Parts Co. Ltd. said its normalized net income for the fourth quarter amounted to 10 fen per share, an increase from 10 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 10.5 million yuan, an increase of 34.7% from 7.8 million yuan in the year-earlier period.
The normalized profit margin fell to 5.8% from 7.1% in the year-earlier period.
Total revenue rose 17.9% year over year to 128.6 million yuan from 109.1 million yuan, and total operating expenses climbed 27.1% from the prior-year period to 118.7 million yuan from 93.4 million yuan.
Reported net income declined 12.0% on an annual basis to 12.8 million yuan, or 13 fen per share, from 14.5 million yuan, or 19 fen per share.
For the year, the company's normalized net income totaled 1.19 yuan per share, a decline of 8.8% from 1.31 yuan per share in the prior year.
Normalized net income was 104.3 million yuan, an increase of 6.3% from 98.1 million yuan in the prior year.
Full-year total revenue grew from the prior-year period to 694.6 million yuan from 674.5 million yuan, and total operating expenses rose on an annual basis to 538.9 million yuan from 523.8 million yuan.
The company said reported net income rose year over year to 138.2 million yuan, or 1.58 yuan per share, in the full year, from 134.7 million yuan, or 1.80 yuan per share.
As of April 8, US$1 was equivalent to 6.47 yuan.