Battistella Administração e Participações SA said its normalized net income for the fourth quarter amounted to a loss of 32 Brazilian centavos per share, compared with a loss of 57 centavos per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.9 million reais, compared with a loss of 3.4 million reais in the prior-year period.
The normalized profit margin rose to negative 1.3% from negative 1.5% in the year-earlier period.
Total revenue decreased 60.1% on an annual basis to 90.2 million reais from 226.1 million reais, and total operating expenses fell 63.9% year over year to 78.3 million reais from 216.6 million reais.
Reported net income came to 72.1 million reais, or 12.05 reais per share, compared to a loss of 12.6 million reais, or a loss of 2.11 reais per share, in the prior-year period.
For the year, the company's normalized net income totaled a loss of 6.05 reais per share, compared with a loss of 2.20 reais per share in the prior year.
Normalized net income was a loss of 36.2 million reais, compared with a loss of 13.2 million reais in the prior year.
Full-year total revenue declined 60.6% from the prior-year period to 340.3 million reais from 863.9 million reais, and total operating expenses declined 58.3% on an annual basis to 349.4 million reais from 838.5 million reais.
The company said reported net income totaled 51.2 million reais, or 8.54 reais per share, in the full year, compared with a loss of 27.6 million reais, or a loss of 4.61 reais per share, the prior year.
As of March 29, US$1 was equivalent to 3.67 reais.