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Somos Educaçí£o profit misses consensus by 18.6% in Q1

Somos Educação SA said its first-quarter normalized net income amounted to 18 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 22 centavos per share.

EPS fell 6.7% year over year from 19 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 47.1 million reais, a decline from 49.5 million reais in the prior-year period.

The normalized profit margin declined to 11.2% from 14.8% in the year-earlier period.

Total revenue grew 12.3% year over year to 374.7 million reais from 333.7 million reais, and total operating expenses grew 18.4% on an annual basis to 267.6 million reais from 226.0 million reais.

Reported net income fell 11.5% on an annual basis to 47.2 million reais, or 18 centavos per share, from 53.4 million reais, or 20 centavos per share.

As of May 11, US$1 was equivalent to 3.03 reais.