Vulcabras | azaleia SA said its third-quarter normalized net income was 4 Brazilian centavos per share, an increase of 49.6% from 3 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 7.3 million reais, a gain of 50.4% from 4.9 million reais in the year-earlier period.

The normalized profit margin climbed to 2.1% from 1.4% in the year-earlier period.

Total revenue grew year over year to 357.2 million reais from 342.3 million reais, and total operating expenses increased on an annual basis to 320.8 million reais from 308.9 million reais.

Reported net income rose from the prior-year period to 8.1 million reais, or 4 centavos per share, from 3.1 million reais, or 2 centavos per share.

As of Nov. 9, US$1 was equivalent to 3.80 reais.