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Organizacií³n Cultiba Q1 loss narrows YOY

Organización Cultiba SAB de CV said its normalized net income for the first quarter amounted to a loss of 2 Mexican centavos per share, compared with a loss of 7 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 10.8 million pesos, compared with a loss of 47.4 million pesos in the prior-year period.

The normalized profit margin rose to negative 0.1% from negative 0.6% in the year-earlier period.

Total revenue rose year over year to 7.83 billion pesos from 7.60 billion pesos, and total operating expenses totaled 7.78 billion pesos, compared with 7.77 billion pesos in the prior-year period.

Reported net income totaled a loss of 130.3 million pesos, or a loss of 18 centavos per share, compared to a loss of 192.9 million pesos, or a loss of 27 centavos per share, in the year-earlier period.

As of April 29, US$1 was equivalent to 15.17 Mexican pesos.