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Pettenati fiscal Q3 profit climbs 34.6% YOY

Pettenati SA - Indústria Têxtil said its normalized net income for the fiscal third quarter ended March 31 was 12 Brazilian centavos per share, an increase of 34.6% from 9 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 5.7 million reais, an increase of 34.6% from 4.3 million reais in the prior-year period.

The normalized profit margin rose to 4.5% from 3.9% in the year-earlier period.

Total revenue grew 17.6% on an annual basis to 128.0 million reais from 108.9 million reais, and total operating expenses increased 13.9% from the prior-year period to 114.3 million reais from 100.4 million reais.

Reported net income grew 87.1% year over year to 9.4 million reais, or 20 centavos per share, from 5.0 million reais, or 11 centavos per share.

As of May 15, US$1 was equivalent to 2.98 reais.