Beijing Sanfo Outdoor Products Co. Ltd said its normalized net income for the third quarter amounted to 1 fen per share, a decrease of 23.1% from 2 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.7 million yuan, an increase of 11.2% from 1.5 million yuan in the year-earlier period.

The normalized profit margin declined to 2.0% from 2.2% in the year-earlier period.

Total revenue grew 18.8% on an annual basis to 83.9 million yuan from 70.6 million yuan, and total operating expenses climbed 20.9% from the prior-year period to 80.7 million yuan from 66.7 million yuan.

Reported net income totaled 2.4 million yuan, or 2 fen per share, compared to 1.6 million yuan, or 2 fen per share, in the prior-year period.

As of Oct. 27, US$1 was equivalent to 6.78 yuan.