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Teka Tecelagem Kuehnrich Q1 loss widens YOY

Teka Tecelagem Kuehnrich S.A. said its first-quarter normalized net income amounted to a loss of 47.10 reais per share, compared with a loss of 45.26 reais 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 23.7 million reais, compared with a loss of 22.8 million reais in the prior-year period.

The normalized profit margin rose to negative 58.0% from negative 66.8% in the year-earlier period.

Total revenue grew 19.7% year over year to 40.8 million reais from 34.1 million reais, and total operating expenses rose 6.2% from the prior-year period to 42.3 million reais from 39.9 million reais.

Reported net income came to a loss of 38.2 million reais, or a loss of 76.02 reais per share, compared to a loss of 36.8 million reais, or a loss of 73.23 reais per share, in the year-earlier period.

As of May 13, US$1 was equivalent to 3.51 reais.