Shandong Delisi Food Co. Ltd. said its normalized net income for the fourth quarter was a loss of 4.4 million yuan, compared with a loss of 9.0 million 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 climbed to negative 1.7% from negative 2.5% in the year-earlier period.
Total revenue declined 13.0% year over year to 311.0 million yuan from 357.7 million yuan, and total operating expenses fell 13.6% year over year to 318.1 million yuan from 368.3 million yuan.
Reported net income totaled a loss of 6.8 million yuan, or a loss of 1 fen per share, compared to a loss of 3.7 million yuan, or a loss of 1 fen per share, in the prior-year period.
For the year, the company's normalized net income totaled 4 fen per share, a decline of 18.3% from 4 fen per share in the prior year.
Normalized net income was 18.1 million yuan, a fall of 18.4% from 22.2 million yuan in the prior year.
Full-year total revenue declined from the prior-year period to 1.55 billion yuan from 1.62 billion yuan, and total operating expenses declined year over year to 1.52 billion yuan from 1.59 billion yuan.
The company said reported net income declined 35.8% on an annual basis to 22.6 million yuan, or 5 fen per share, in the full year, from 35.2 million yuan, or 7 fen per share.
As of March 14, US$1 was equivalent to 6.50 yuan.