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Lingyun Industrial Q1 profit climbs 49.9% YOY

Lingyun Industrial Corp. Ltd said its normalized net income for the first quarter came to 7 fen per share, compared with the S&P Capital IQ consensus estimate of 7 fen per share.

EPS climbed 21.7% year over year from 6 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 30.9 million yuan, a gain of 49.9% from 20.6 million yuan in the prior-year period.

The normalized profit margin climbed to 1.7% from 1.2% in the year-earlier period.

Total revenue climbed 14.0% on an annual basis to 1.90 billion yuan from 1.66 billion yuan, and total operating expenses grew 15.7% year over year to 1.77 billion yuan from 1.53 billion yuan.

Reported net income rose 91.6% on an annual basis to 61.3 million yuan, or 14 fen per share, from 32.0 million yuan, or 9 fen per share.

As of April 25, US$1 was equivalent to 6.49 yuan.