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Biosev fiscal Q3 loss widens 60.1% YOY

Biosev SA said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of 55 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of a loss of 1.16 reais per share.

The per-share loss widened 58.6% year over year from 35 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 113.2 million reais, compared with a loss of 70.7 million reais in the prior-year period.

The normalized profit margin dropped to negative 11.0% from negative 7.0% in the year-earlier period.

Total revenue grew year over year to 1.03 billion reais from 1.02 billion reais, and total operating expenses rose on an annual basis to 988.2 million reais from 969.5 million reais.

Reported net income totaled a loss of 86.6 million reais, or a loss of 42 centavos per share, compared to a loss of 205.0 million reais, or a loss of 1.01 reais per share, in the prior-year period.

As of Feb. 10, US$1 was equivalent to 2.83 reais.