Inzone Group Co. Ltd. said its normalized net income for the fourth quarter came to 3 fen per share, a decline of 53.6% from 6 fen per share in the fourth quarter ended Jan. 1, 2015.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 15.2 million yuan, a decline of 53.6% from 32.7 million yuan in the fourth quarter ended Jan. 1, 2015.
The normalized profit margin dropped to 0.7% from 0.9% in the year-earlier period.
Total revenue totaled 3.45 billion yuan, compared with 3.46 billion yuan in the year-earlier period, and total operating expenses totaled 3.36 billion yuan, compared with 3.39 billion yuan in the prior-year period.
Reported net income came to a loss of 9.5 million yuan, or a loss of 2 fen per share, compared to a loss of 17.6 million yuan, or a loss of 3 fen per share, in the fourth quarter ended Jan. 1, 2015.
For the year, the company's normalized net income totaled 34 fen per share, a decrease of 21.9% from 44 fen per share in the prior year.
Normalized net income was 178.0 million yuan, a fall of 21.9% from 227.8 million yuan in the prior year.
Full-year total revenue grew 5.6% year over year to 14.59 billion yuan from 13.82 billion yuan, and total operating expenses rose 5.8% on an annual basis to 14.07 billion yuan from 13.30 billion yuan.
The company said reported net income declined 42.6% on an annual basis to 103.7 million yuan, or 20 fen per share, in the full year, from 180.7 million yuan, or 35 fen per share.
As of March 28, US$1 was equivalent to 6.48 yuan.