China XD Plastics Co. said its normalized net income for the first quarter amounted to 38 cents per share, compared with 38 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $18.5 million, a gain from $18.3 million in the year-earlier period.
The normalized profit margin rose to 8.3% from 8.2% in the year-earlier period.
Total revenue totaled $221.9 million, compared with $223.6 million in the year-earlier period, and total operating expenses fell on an annual basis to $184.4 million from $189.5 million.
Reported net income increased 16.1% on an annual basis to $19.0 million, or 39 cents per share, from $16.3 million, or 34 cents per share.
