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Ever-Glory International Q2 profit falls YOY

Ever-Glory International Group Inc. said its second-quarter normalized net income came to 17 cents per share, a decline of 19.8% from 21 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.5 million, a decrease of 19.8% from $3.1 million in the prior-year period.

The normalized profit margin declined to 3.1% from 4.1% in the year-earlier period.

Total revenue increased 6.5% on an annual basis to $80.7 million from $75.7 million, and total operating expenses climbed 9.1% on an annual basis to $77.3 million from $70.9 million.

Reported net income decreased 12.6% on an annual basis to $3.1 million, or 21 cents per share, from $3.6 million, or 24 cents per share.