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Shanghai Feilo Acoustics Q3 profit falls YOY

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Shanghai Feilo Acoustics Q3 profit falls YOY

Shanghai Feilo Acoustics Co. Ltd. said its normalized net income for the third quarter came to 3 fen per share, a decrease of 67.7% from 10 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 30.9 million yuan, a decline of 67.4% from 94.9 million yuan in the year-earlier period.

The normalized profit margin declined to 1.8% from 6.1% in the year-earlier period.

Total revenue rose 25.4% year over year to 1.96 billion yuan from 1.56 billion yuan, and total operating expenses grew 31.1% year over year to 1.88 billion yuan from 1.43 billion yuan.

Reported net income fell 56.5% year over year to 54.4 million yuan, or 5 fen per share, from 125.1 million yuan, or 13 fen per share.

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