Jinzi Ham Co. Ltd. said its normalized net income for the fourth quarter came to a loss of 573,670 yuan, compared with a loss of 2.8 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 climbed to negative 4.4% from negative 6.4% in the year-earlier period.
Total revenue decreased 14.9% on an annual basis to 37.1 million yuan from 43.6 million yuan, and total operating expenses fell 13.2% year over year to 40.4 million yuan from 46.6 million yuan.
Reported net income came to a loss of 897,120 yuan, or a loss of 0 fen per share, compared to a loss of 3.8 million yuan, or a loss of 1 fen per share, in the year-earlier period.
For the year, the company's normalized net income totaled 1 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 3 fen.
EPS declined from 1 fen in the prior year.
Normalized net income was 12.5 million yuan, a rise of 23.9% from 10.1 million yuan in the prior year.
Full-year total revenue decreased 12.2% year over year to 186.9 million yuan from 212.9 million yuan, and total operating expenses fell 14.2% year over year to 182.3 million yuan from 212.5 million yuan.
The company said reported net income increased 11.3% year over year to 21.9 million yuan, or 2 fen per share, in the full year, from 19.7 million yuan, or 3 fen per share.
As of March 8, US$1 was equivalent to 6.50 yuan.