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Trisul swings to loss in Q2

Trisul SA said its second-quarter normalized net income amounted to a loss of 61,250 reais, compared with income of 3.1 million reais in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 0.1% from 3.6% in the year-earlier period.

Total revenue declined 32.6% on an annual basis to 59.2 million reais from 87.7 million reais, and total operating expenses decreased 27.7% from the prior-year period to 57.8 million reais from 80.0 million reais.

Reported net income came to a loss of 2.1 million reais, or a loss of 3 centavos per share, compared to income of 3.7 million reais, or 5 centavos per share, in the year-earlier period.

As of Aug. 15, US$1 was equivalent to 3.16 reais.