For the full fiscal year, G&A expenses were up almost 57% to RMB91.8 million due to increase in staff cost, professional fees associated with our M&A activity and real estate and other business taxes. It is important to note that our fourth quarter and full year 2010 expenses included the operating cost associated with the LNS business, which were not presented in the 2009 comparable. Excluding LNS, the full year increase in G&A expenses were 31%.Net loss for the fourth quarter was RMB83.6 million or RMB2.19 and RMB2.15 for basic and diluted share respectively compared to net income of RMB17.9 million in year ago period. Net income for the full year was RMB5.7 million or RMB0.15 and RMB0.14 respectively down from RMB97 million in fiscal 2009.
Noah CEO Discusses F4Q10 Results - Earnings Call Transcript
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