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Mianyang Fulin Precision Machining Q4 profit climbs 21.8% YOY

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Mianyang Fulin Precision Machining Q4 profit climbs 21.8% YOY

Mianyang Fulin Precision Machining Co. Ltd. said its normalized net income for the fourth quarter came to 17 fen per share, an increase of 89.4% from 9 fen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 29.2 million yuan, a gain of 21.8% from 24.0 million yuan in the year-earlier period.

The normalized profit margin rose to 11.7% from 10.9% in the year-earlier period.

Total revenue grew 9.2% year over year to 240.7 million yuan from 220.5 million yuan, and total operating expenses climbed 12.6% from the prior-year period to 196.9 million yuan from 174.9 million yuan.

Reported net income rose 18.4% year over year to 45.4 million yuan, or 26 fen per share, from 38.3 million yuan, or 14 fen per share.

For the year, the company's normalized net income totaled 41 fen per share, an increase of 15.1% from 35 fen per share in the prior year.

Normalized net income was 123.7 million yuan, an increase of 29.1% from 95.8 million yuan in the prior year.

Full-year total revenue increased 22.8% from the prior-year period to 859.4 million yuan from 699.6 million yuan, and total operating expenses grew 23.4% on an annual basis to 671.3 million yuan from 544.1 million yuan.

The company said reported net income rose 27.0% on an annual basis to 173.7 million yuan, or 57 fen per share, in the full year, from 136.8 million yuan, or 51 fen per share.

As of March 2, US$1 was equivalent to 6.55 yuan.