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Pomifrutas Q3 loss widens YOY

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Pomifrutas Q3 loss widens YOY

Pomifrutas SA said its normalized net income for the third quarter was a loss of 39 Brazilian centavos per share, compared with a loss of 11 centavos 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 3.5 million reais, compared with a loss of 1.0 million reais in the prior-year period.

The normalized profit margin dropped to negative 45.4% from negative 6.0% in the year-earlier period.

Total revenue decreased 32.1% year over year to 11.6 million reais from 17.1 million reais, and total operating expenses fell year over year to 14.0 million reais from 14.7 million reais.

Reported net income came to a loss of 5.5 million reais, or a loss of 60 centavos per share, compared to a loss of 1.3 million reais, or a loss of 15 centavos per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to 3.82 reais.