Hangzhou Robam Appliances Co. Ltd. said its fourth-quarter normalized net income came to 37 fen per share, compared with the S&P Capital IQ consensus estimate of 48 fen per share.

EPS climbed 46.8% year over year from 25 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 336.3 million yuan, a gain of 40.9% from 238.7 million yuan in the year-earlier period.

The normalized profit margin climbed to 18.6% from 16.8% in the year-earlier period.

Total revenue rose 27.3% year over year to 1.81 billion yuan from 1.42 billion yuan, and total operating expenses grew 23.3% year over year to 1.30 billion yuan from 1.06 billion yuan.

Reported net income grew 47.7% on an annual basis to 505.5 million yuan, or 56 fen per share, from 342.4 million yuan, or 36 fen per share.

For the year, the company's normalized net income totaled 88 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.24 yuan.

EPS rose 39.0% from 63 fen in the prior year.

Normalized net income was 835.0 million yuan, a gain of 39.6% from 598.2 million yuan in the prior year.

Full-year total revenue rose 27.6% from the prior-year period to 5.79 billion yuan from 4.54 billion yuan, and total operating expenses rose 24.1% on an annual basis to 4.54 billion yuan from 3.66 billion yuan.

The company said reported net income grew 45.3% on an annual basis to 1.21 billion yuan, or 1.27 yuan per share, in the full year, from 830.5 million yuan, or 88 fen per share.

As of March 30, US$1 was equivalent to 6.89 yuan.