Luzhou Laojiao Co. Ltd. said its second-quarter normalized net income came to 26 fen per share, compared with the S&P Capital IQ consensus estimate of 40 fen per share.
EPS decreased year over year from 26 fen.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 367.3 million yuan, a decrease from 371.7 million yuan in the prior-year period.
The normalized profit margin climbed to 20.7% from 17.9% in the year-earlier period.
Total revenue decreased 13.8% on an annual basis to 1.79 billion yuan from 2.07 billion yuan, and total operating expenses declined 6.8% year over year to 1.40 billion yuan from 1.50 billion yuan.
Reported net income increased on an annual basis to 481.3 million yuan, or 34 fen per share, from 467.8 million yuan, or 33 fen per share.
As of Aug. 24, US$1 was equivalent to 6.40 yuan.
