Lentuo International Inc. (LAS) shares stayed flat Friday even though the Chinese auto retailer announced it tightened its loss in Q4 2013 and returned to annual profitability in 2013.
For the quarter ended December 31, 2013, LAS reported a net loss of RMB 7.1 million ($1.2 million), or RMB 0.11 ($0.02) per share, compared to a net loss of RMB 24.3 million, or RMB 0.41 per share in Q4 2012.
Q4 revenues fell 2.1% to RMB 858.8 million ($141.9 million).
For the full year, LAS reported annual revenues of RMB3.3 billion ($540.6 million), beating one analyst estimate of $516.3 million.
LAS also reported that it returned to profitability in 2013 with net income of RMB 23.8 million ($3.9 million), or RMB 0.37 ($0.06) per share, compared to a net loss of RMB 5.5 million, or RMB 0.09 per share in 2012.
LAS shares stayed flat at $2.97, rising by only one cent on Friday. The stock trades close to the low end of the 52-week range between $2.4 and $6.05.
All conversions from Renminbi to U.S. dollars were made at the exchange rate of RMB 6.0537 to US $1.00
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