Trisul SA said its normalized net income for the first quarter amounted to 2 Brazilian centavos per share, a decline of 42.0% from 4 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 1.6 million reais, a decline of 43.5% from 2.8 million reais in the prior-year period.
The normalized profit margin fell to 1.9% from 2.8% in the year-earlier period.
Total revenue fell 16.2% year over year to 83.7 million reais from 99.9 million reais, and total operating expenses fell 12.1% on an annual basis to 76.0 million reais from 86.5 million reais.
Reported net income decreased 62.7% on an annual basis to 2.3 million reais, or 3 centavos per share, from 6.1 million reais, or 8 centavos per share.
As of May 14, US$1 was equivalent to 3.01 reais.
