Harbin VITI Electronics Co. Ltd. said its normalized net income for the first quarter came to 10.5 million yuan, an increase from 10.3 million yuan in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin rose to 26.4% from 25.1% in the year-earlier period.
Total revenue declined on an annual basis to 40.3 million yuan from 41.0 million yuan, and total operating expenses decreased 6.5% year over year to 23.7 million yuan from 25.3 million yuan.
Reported net income declined year over year to 13.8 million yuan, or 5 fen per share, from 14.0 million yuan.
As of May 11, US$1 was equivalent to 6.21 yuan.
