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Empresas Iansa Q1 profit climbs 10.7% YOY

Empresas Iansa SA said its first-quarter normalized net income came to $2.1 million, an increase of 10.7% from $1.9 million in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 1.6% from 1.4% in the year-earlier period.

Total revenue declined year over year to $127.7 million from $133.8 million, and total operating expenses decreased 5.5% from the prior-year period to $122.9 million from $130.2 million.

Reported net income came to $2.8 million, or 0 cents per share, compared to $2.8 million, or 0 cents per share, in the prior-year period.