Jiangsu LiXing General Steel Ball Co. Ltd. said its first-quarter normalized net income amounted to 8 fen per share, a decrease of 17.4% from 10 fen per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 8.8 million yuan, an increase of 10.1% from 8.0 million yuan in the prior-year period.
The normalized profit margin climbed to 7.7% from 7.0% in the year-earlier period.
Total revenue climbed year over year to 117.8 million yuan from 114.4 million yuan, and total operating expenses totaled 99.0 million yuan, compared with 98.2 million yuan in the prior-year period.
Reported net income rose 11.3% on an annual basis to 12.1 million yuan, or 11 fen per share, from 10.9 million yuan, or 13 fen per share.
As of April 23, US$1 was equivalent to 6.20 yuan.
