Valparaíso Sporting Club SA said its normalized net income for the first quarter amounted to 39.3 million pesos, a decrease of 64.3% from 110.1 million pesos in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 2.4% from 6.3% in the year-earlier period.

Total revenue increased year over year to 1.81 billion pesos from 1.75 billion pesos, and total operating expenses grew 7.9% from the prior-year period to 1.77 billion pesos from 1.64 billion pesos.

Reported net income came to 91.9 million pesos, compared with 173.7 million pesos in the year-earlier period.

As of May 29, US$1 was equivalent to 619.00 Chilean pesos.