Zhang Jia Jie Tourism Group Co. Ltd said its fourth-quarter normalized net income amounted to a loss of 5.4 million yuan, compared with income of 5,070 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 negative 3.3% from 0.0% in the year-earlier period.

Total revenue increased 25.6% on an annual basis to 169.0 million yuan from 134.5 million yuan, and total operating expenses climbed 31.8% from the prior-year period to 176.3 million yuan from 133.7 million yuan.

Reported net income came to a loss of 16.5 million yuan, or a loss of 5 fen per share, compared to a loss of 4.4 million yuan, or a loss of 1 fen per share, in the year-earlier period.

For the year, the company's normalized net income totaled 32 fen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 31 fen.

EPS rose 86.3% from 17 fen in the prior year.

Normalized net income was 101.4 million yuan, a rise of 85.9% from 54.6 million yuan in the prior year.

Full-year total revenue grew 39.4% on an annual basis to 674.9 million yuan from 484.0 million yuan, and total operating expenses increased 29.8% on an annual basis to 506.1 million yuan from 390.0 million yuan.

The company said reported net income increased 89.1% on an annual basis to 114.4 million yuan, or 36 fen per share, in the full year, from 60.5 million yuan, or 19 fen per share.

As of March 1, US$1 was equivalent to 6.55 yuan.