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Fras-le SA profit misses consensus by 35.9% in Q2

Fras-le SA said its normalized net income for the second quarter was 8 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 12 centavos per share.

EPS rose 47.0% year over year from 5 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 9.4 million reais, an increase of 43.5% from 6.5 million reais in the year-earlier period.

The normalized profit margin rose to 4.7% from 3.5% in the year-earlier period.

Total revenue grew 7.4% on an annual basis to 201.0 million reais from 187.1 million reais, and total operating expenses climbed 5.3% from the prior-year period to 183.6 million reais from 174.4 million reais.

Reported net income rose 37.7% on an annual basis to 14.0 million reais, or 11 centavos per share, from 10.2 million reais, or 8 centavos per share.

As of Aug. 11, US$1 was equivalent to 3.50 reais.