Brasil Pharma SA said its normalized net income for the first quarter was a loss of 8.24 reais per share, compared with the S&P Capital IQ consensus estimate of a loss of 12.50 reais per share.
The per-share loss narrowed 65.6% year over year from 23.94 reais.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 59.8 million reais, compared with a loss of 122.8 million reais in the year-earlier period.
The normalized profit margin increased to negative 7.6% from negative 14.4% in the year-earlier period.
Total revenue declined year over year to 819.3 million reais from 853.1 million reais, and total operating expenses declined 14.4% from the prior-year period to 875.9 million reais from 1.02 billion reais.
Reported net income totaled a loss of 88.6 million reais, or a loss of 12.20 reais per share, compared to a loss of 185.3 million reais, or a loss of 36.14 reais per share, in the year-earlier period.
As of May 13, US$1 was equivalent to 3.01 reais.
