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Iflytek Q1 profit climbs 33.1% YOY

Iflytek Co. Ltd. said its normalized net income for the first quarter was 4 fen per share, compared with the S&P Capital IQ consensus estimate of 5 fen per share.

EPS increased 35.5% year over year from 3 fen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 54.3 million yuan, an increase of 33.1% from 40.8 million yuan in the year-earlier period.

The normalized profit margin declined to 13.4% from 15.6% in the year-earlier period.

Total revenue increased 55.0% year over year to 406.1 million yuan from 261.9 million yuan, and total operating expenses grew 59.0% from the prior-year period to 377.5 million yuan from 237.4 million yuan.

Reported net income grew 30.8% from the prior-year period to 66.6 million yuan, or 5 fen per share, from 50.9 million yuan, or 4 fen per share.

As of April 20, US$1 was equivalent to 6.20 yuan.