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Mianyang Fulin Precision Machining Q1 profit climbs 24.3% YOY

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Mianyang Fulin Precision Machining Q1 profit climbs 24.3% YOY

Mianyang Fulin Precision Machining Co. Ltd. said its normalized net income for the first quarter amounted to 12 fen per share, a gain of 25.3% from 9 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 31.1 million yuan, an increase of 24.3% from 25.0 million yuan in the year-earlier period.

The normalized profit margin dropped to 15.5% from 15.8% in the year-earlier period.

Total revenue climbed 27.8% on an annual basis to 202.0 million yuan from 158.0 million yuan, and total operating expenses rose 28.1% on an annual basis to 153.0 million yuan from 119.4 million yuan.

Reported net income rose 22.7% on an annual basis to 42.1 million yuan, or 16 fen per share, from 34.3 million yuan, or 13 fen per share.

As of April 23, US$1 was equivalent to 6.20 yuan.