Plascar Participações Industriais SA said its normalized net income for the first quarter was a loss of 2.09 reais per share, compared with a loss of 3.05 reais 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 10.4 million reais, compared with a loss of 14.8 million reais in the year-earlier period.
The normalized profit margin climbed to negative 7.7% from negative 10.0% in the year-earlier period.
Total revenue declined 9.1% on an annual basis to 135.0 million reais from 148.5 million reais, and total operating expenses decreased 15.3% year over year to 133.2 million reais from 157.2 million reais.
Reported net income came to a loss of 17.8 million reais, or a loss of 3.58 reais per share, compared to a loss of 24.9 million reais, or a loss of 5.14 reais per share, in the prior-year period.
As of April 28, US$1 was equivalent to 2.91 reais.
