Guangdong Tonze Electric Co. Ltd. said its first-quarter normalized net income came to 6 fen per share, an increase of 27.3% from 5 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 11.5 million yuan, an increase of 29.2% from 8.9 million yuan in the prior-year period.
The normalized profit margin rose to 11.8% from 9.9% in the year-earlier period.
Total revenue grew 12.5% on an annual basis to 100.3 million yuan from 89.1 million yuan, and total operating expenses climbed 9.6% year over year to 82.0 million yuan from 74.8 million yuan.
Reported net income increased 47.1% year over year to 16.2 million yuan, or 9 fen per share, from 11.0 million yuan, or 6 fen per share.
As of May 8, US$1 was equivalent to 6.21 yuan.
