Arezzo Indústria e Comércio SA said its first-quarter normalized net income amounted to 21 Brazilian centavos per share, an increase of 7.7% from 20 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 19.0 million reais, an increase of 7.8% from 17.6 million reais in the prior-year period.
The normalized profit margin declined to 8.0% from 8.2% in the year-earlier period.
Total revenue climbed 10.7% on an annual basis to 236.2 million reais from 213.4 million reais, and total operating expenses grew 13.7% on an annual basis to 213.9 million reais from 188.2 million reais.
Reported net income rose year over year to 18.1 million reais, or 20 centavos per share, from 17.4 million reais, or 20 centavos per share.
As of May 6, US$1 was equivalent to 3.04 reais.
