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Ningbo Sunlight Electrical Appliance Q3 loss widens 24.7% YOY

Ningbo Sunlight Electrical Appliance Co. Ltd. said its third-quarter normalized net income came to a loss of 3 fen per share, compared with a loss of 3 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 5.0 million yuan, compared with a loss of 4.0 million yuan in the year-earlier period.

The normalized profit margin fell to negative 21.0% from negative 17.5% in the year-earlier period.

Total revenue increased on an annual basis to 24.0 million yuan from 23.1 million yuan, and total operating expenses increased on an annual basis to 31.9 million yuan from 30.8 million yuan.

Reported net income totaled a loss of 8.0 million yuan, or a loss of 5 fen per share, compared to a loss of 6.1 million yuan, or a loss of 4 fen per share, in the prior-year period.

As of Oct. 28, US$1 was equivalent to 6.78 yuan.