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Ever-Glory International Q1 profit falls YOY

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Ever-Glory International Q1 profit falls YOY

Ever-Glory International Group Inc. said its normalized net income for the first quarter amounted to 14 cents per share, a decrease from 14 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.0 million, a decrease from $2.0 million in the prior-year period.

The normalized profit margin climbed to 2.1% from 1.9% in the year-earlier period.

Total revenue decreased 7.7% year over year to $97.9 million from $106.0 million, and total operating expenses declined 8.1% from the prior-year period to $94.5 million from $102.8 million.

Reported net income came to $2.4 million, or 16 cents per share, compared to $2.4 million, or 16 cents per share, in the prior-year period.