Shanghai Feilo Acoustics Co. Ltd. said its normalized net income for the first quarter amounted to 3 fen per share, an increase from 1 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 30.1 million yuan, an increase from 9.1 million yuan in the prior-year period.
The normalized profit margin increased to 4.7% from 1.9% in the year-earlier period.
Total revenue rose 42.9% on an annual basis to 690.9 million yuan from 483.5 million yuan, and total operating expenses climbed 39.5% year over year to 639.7 million yuan from 458.6 million yuan.
Reported net income grew year over year to 41.9 million yuan, or 4 fen per share, from 4.9 million yuan, or 1 fen per share.
As of April 29, US$1 was equivalent to 6.20 yuan.
