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Nadir Figueiredo Indústria e Comércio swings to loss in Q3

Nadir Figueiredo Indústria e Comércio SA said its third-quarter normalized net income came to a loss of 27 Brazilian centavos per share, compared with 4 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 3.7 million reais, compared with income of 500,500 reais in the prior-year period.

The normalized profit margin declined to negative 2.9% from 0.4% in the year-earlier period.

Total revenue came to 127.8 million reais, compared with 127.8 million reais in the year-earlier period, and total operating expenses came to 121.7 million reais, compared with 121.6 million reais in the year-earlier period.

Reported net income totaled a loss of 3.6 million reais, or a loss of 27 centavos per share, compared to income of 74,000 reais, or 1 centavos per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to 3.79 reais.