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Renauxview Q1 loss widens YOY

Renauxview SA said its first-quarter normalized net income was a loss of 1.02 reais per share, compared with a loss of 99 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.3 million reais, compared with a loss of 4.2 million reais in the prior-year period.

The normalized profit margin dropped to negative 23.1% from negative 20.0% in the year-earlier period.

Total revenue declined 11.0% year over year to 18.7 million reais from 21.1 million reais, and total operating expenses decreased 15.9% on an annual basis to 18.7 million reais from 22.2 million reais.

Reported net income totaled a loss of 7.0 million reais, or a loss of 1.64 reais per share, compared to a loss of 6.8 million reais, or a loss of 1.60 reais per share, in the year-earlier period.

As of May 14, US$1 was equivalent to 3.01 reais.