Minupar Participações S/A said its first-quarter normalized net income amounted to 9 Brazilian centavos per share, compared with a loss of 12 centavos per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 610,000 reais, compared with a loss of 844,630 reais in the year-earlier period.

The normalized profit margin rose to 1.2% from negative 1.8% in the year-earlier period.

Total revenue climbed 8.4% year over year to 51.5 million reais from 47.5 million reais, and total operating expenses declined year over year to 41.2 million reais from 41.8 million reais.

Reported net income came to a loss of 240,000 reais, or a loss of 3 centavos per share, compared to a loss of 1.4 million reais, or a loss of 19 centavos per share, in the prior-year period.

As of May 13, US$1 was equivalent to 3.51 reais.