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Cambuci swings to profit in Q3

Cambuci SA said its third-quarter normalized net income was 20 Brazilian centavos per share, compared with a loss of 2.57 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 772,750 reais, compared with a loss of 9.9 million reais in the prior-year period.

The normalized profit margin rose to 0.9% from negative 11.2% in the year-earlier period.

Total revenue declined year over year to 84.0 million reais from 88.2 million reais, and total operating expenses fell 13.6% year over year to 76.5 million reais from 88.5 million reais.

Reported net income totaled 239,000 reais, or 6 centavos per share, compared to a loss of 18.6 million reais, or a loss of 4.82 reais per share, in the prior-year period.

As of Nov. 10, US$1 was equivalent to 3.38 reais.