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Teka Tecelagem Kuehnrich Q3 loss narrows YOY

Teka Tecelagem Kuehnrich S.A. said its third-quarter normalized net income amounted to a loss of 57.62 reais per share, compared with a loss of 65.61 reais per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 29.0 million reais, compared with a loss of 33.0 million reais in the year-earlier period.

The normalized profit margin climbed to negative 89.4% from negative 104.8% in the year-earlier period.

Total revenue grew on an annual basis to 32.4 million reais from 31.5 million reais, and total operating expenses fell 26.8% year over year to 42.3 million reais from 57.8 million reais.

Reported net income came to a loss of 46.6 million reais, or a loss of 92.67 reais per share, compared to a loss of 43.0 million reais, or a loss of 85.41 reais per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to 3.82 reais.