DTCOM - Direct to Co. S.A. said its normalized net income for the first quarter amounted to a loss of 4 Brazilian centavos per share, compared with a loss of 10 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 240,000 reais, compared with a loss of 559,380 reais in the prior-year period.
The normalized profit margin increased to negative 8.2% from negative 20.4% in the year-earlier period.
Total revenue grew 6.6% year over year to 2.9 million reais from 2.7 million reais, and total operating expenses fell 15.8% year over year to 2.7 million reais from 3.2 million reais.
Reported net income totaled a loss of 254,000 reais, or a loss of 5 centavos per share, compared to a loss of 1.1 million reais, or a loss of 19 centavos per share, in the year-earlier period.
As of May 13, US$1 was equivalent to 3.51 reais.