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Lancy Q4 loss narrows YOY


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Lancy Q4 loss narrows YOY

Lancy Co. Ltd. said its fourth-quarter normalized net income amounted to a loss of 1 fen per share, compared with a loss of 2 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 a loss of 4.9 million yuan, compared with a loss of 6.6 million yuan in the year-earlier period.

The normalized profit margin climbed to negative 1.8% from negative 1.9% in the year-earlier period.

Total revenue declined 12.2% year over year to 307.5 million yuan from 350.1 million yuan, and total operating expenses declined 8.2% on an annual basis to 318.6 million yuan from 347.1 million yuan.

Reported net income declined 20.3% from the prior-year period to 26.4 million yuan, or 6 fen per share, from 33.2 million yuan, or 9 fen per share.

For the year, the company's normalized net income totaled 11 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 21 fen.

EPS declined 49.3% from 22 fen in the prior year.

Normalized net income was 45.3 million yuan, a decrease of 48.7% from 88.3 million yuan in the prior year.

Full-year total revenue decreased 7.4% year over year to 1.14 billion yuan from 1.24 billion yuan, and total operating expenses fell on an annual basis to 1.09 billion yuan from 1.14 billion yuan.

The company said reported net income declined 38.6% year over year to 74.5 million yuan, or 19 fen per share, in the full year, from 121.2 million yuan, or 31 fen per share.

As of March 30, US$1 was equivalent to 6.47 yuan.