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Cambuci Q2 loss narrows YOY

Cambuci SA said its normalized net income for the second quarter came to a loss of 54 Brazilian centavos per share, compared with a loss of 1.25 reais per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.1 million reais, compared with a loss of 4.8 million reais in the prior-year period.

The normalized profit margin climbed to negative 2.4% from negative 6.0% in the year-earlier period.

Total revenue decreased 13.5% on an annual basis to 69.3 million reais from 80.1 million reais, and total operating expenses fell 18.6% from the prior-year period to 62.0 million reais from 76.2 million reais.

Reported net income came to a loss of 3.4 million reais, or a loss of 87 centavos per share, compared to a loss of 9.6 million reais, or a loss of 2.49 reais per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to 3.16 reais.