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Zhejiang Dehong Automotive Electronic posts Q4 profit

Zhejiang Dehong Automotive Electronic & Electrical Co. Ltd. said its fourth-quarter normalized net income was 6.9 million yuan.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 7.0%.

Total revenue totaled 95.5 million yuan, and total operating expenses came to 83.0 million yuan.

Reported net income totaled 10.5 million yuan, or 12 fen per share.

For the year, the company's normalized net income totaled 45 fen per share, an increase of 5.2% from 42 fen per share in the prior year.

Normalized net income was 39.3 million yuan, a gain of 4.9% from 37.4 million yuan in the prior year.

Full-year total revenue declined year over year to 409.4 million yuan from 417.3 million yuan, and total operating expenses decreased year over year to 346.3 million yuan from 357.6 million yuan.

The company said reported net income increased 7.8% on an annual basis to 54.7 million yuan, or 62 fen per share, in the full year, from 50.7 million yuan, or 57 fen per share.

As of April 8, US$1 was equivalent to 6.47 yuan.