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Sí£o Martinho profit misses consensus by 70.1% in fiscal Q4

São Martinho SA said its normalized net income for the fiscal fourth quarter ended March 31 was 10 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 35 centavos per share.

EPS rose year over year from 3 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 35.2 million reais, a gain from 10.9 million reais in the year-earlier period.

The normalized profit margin increased to 5.3% from 3.4% in the year-earlier period.

Total revenue rose year over year to 643.2 million reais from 320.3 million reais, and total operating expenses grew on an annual basis to 546.2 million reais from 272.1 million reais.

Reported net income grew on an annual basis to 56.6 million reais, or 17 centavos per share, from 6.4 million reais, or 2 centavos per share.

For the year, the company's normalized net income totaled 43 centavos per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 96 centavos.

EPS rose 21.1% from 36 centavos in the prior year.

Normalized net income was 146.1 million reais, an increase of 21.6% from 120.2 million reais in the prior year.

Full-year total revenue grew 24.9% year over year to 1.92 billion reais from 1.53 billion reais, and total operating expenses increased 23.6% on an annual basis to 1.57 billion reais from 1.27 billion reais.

The company said reported net income increased on an annual basis to 286.1 million reais, or 84 centavos per share, in the full year, from 135.0 million reais, or 40 centavos per share.

As of June 23, US$1 was equivalent to 3.11 reais.