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Lima Caucho swings to loss in Q1

Lima Caucho SA said its first-quarter normalized net income came to a loss of 6 Peruvian céntimos per share, compared with 2 céntimos 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 1.3 million soles, compared with income of 428,750 soles in the year-earlier period.

The normalized profit margin fell to negative 4.3% from 1.2% in the year-earlier period.

Total revenue declined 15.7% year over year to 30.4 million soles from 36.1 million soles, and total operating expenses declined 9.0% year over year to 30.1 million soles from 33.0 million soles.

Reported net income came to a loss of 2.1 million soles, or a loss of 10 céntimos per share, compared to income of 686,000 soles, or 3 céntimos per share, in the year-earlier period.

As of April 30, US$1 was equivalent to 3.13 soles.