LiJiang YuLong Tourism Co. LTD. said its first-quarter normalized net income was 5 fen per share, compared with the S&P Capital IQ consensus estimate of 9 fen per share.

In the prior-year period, the per-share result came in at a profit of 5 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.8 million yuan, compared with 27.9 million yuan in the prior-year period.

The normalized profit margin declined to 18.3% from 19.0% in the year-earlier period.

Total revenue increased year over year to 152.0 million yuan from 146.7 million yuan, and total operating expenses rose 11.2% from the prior-year period to 90.8 million yuan from 81.7 million yuan.

Reported net income declined from the prior-year period to 41.1 million yuan, or 7 fen per share, from 42.1 million yuan, or 8 fen per share.

As of April 27, US$1 was equivalent to 6.50 yuan.