Natura Cosméticos S.A. said its first-quarter normalized net income amounted to a loss of 9 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 15 centavos per share.

The per-share result swung to a loss from the prior-year profit of 25 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 39.5 million reais, compared with income of 108.5 million reais in the prior-year period.

The normalized profit margin dropped to negative 1.6% from 6.6% in the year-earlier period.

Total revenue increased year over year to 1.69 billion reais from 1.64 billion reais, and total operating expenses rose 8.5% from the prior-year period to 1.53 billion reais from 1.41 billion reais.

Reported net income came to a loss of 69.1 million reais, or a loss of 16 centavos per share, compared to income of 119.6 million reais, or 28 centavos per share, in the year-earlier period.

As of April 27, US$1 was equivalent to 3.54 reais.