Xinjiang Western Animal Husbandry Co. Ltd. said its first-quarter normalized net income was 628,860 yuan, a fall of 83.1% from 3.7 million yuan in the year-earlier period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to 2.1% from 2.4% in the year-earlier period.
Total revenue increased on an annual basis to 160.8 million yuan from 154.0 million yuan, and total operating expenses grew on an annual basis to 146.3 million yuan from 141.6 million yuan.
Reported net income decreased year over year to 5.7 million yuan, or 3 fen per share, from 5.9 million yuan, or 4 fen per share.
As of April 24, US$1 was equivalent to 6.19 yuan.
