Anhui Jiuhuashan Tourism Development Co. Ltd. said its normalized net income for the fourth quarter amounted to 9 fen per share, a decrease of 7.5% from 9 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 9.8 million yuan, an increase of 27.3% from 7.7 million yuan in the prior-year period.

The normalized profit margin fell to 8.0% from 8.2% in the year-earlier period.

Total revenue fell year over year to 90.8 million yuan from 93.8 million yuan, and total operating expenses rose from the prior-year period to 76.1 million yuan from 74.0 million yuan.

Reported net income decreased 22.1% on an annual basis to 10.3 million yuan, or 9 fen per share, from 13.2 million yuan, or 16 fen per share.

For the year, the company's normalized net income totaled 58 fen per share, a decrease of 12.6% from 66 fen per share in the prior year.

Normalized net income was 60.0 million yuan, a rise of 10.1% from 54.5 million yuan in the prior year.

Full-year total revenue fell year over year to 400.8 million yuan from 410.7 million yuan, and total operating expenses decreased on an annual basis to 300.7 million yuan from 304.1 million yuan.

The company said reported net income grew 7.1% on an annual basis to 70.7 million yuan, or 68 fen per share, in the full year, from 66.0 million yuan, or 80 fen per share.

As of April 14, US$1 was equivalent to 6.49 yuan.