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Saraiva Q3 loss widens 15.5% YOY

Saraiva SA Livreiros Editores said its third-quarter normalized net income amounted to a loss of 74 Brazilian centavos per share, compared with a loss of 61 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 a loss of 19.7 million reais, compared with a loss of 17.1 million reais in the year-earlier period.

The normalized profit margin declined to negative 5.1% from negative 4.2% in the year-earlier period.

Total revenue declined on an annual basis to 385.8 million reais from 402.7 million reais, and total operating expenses declined from the prior-year period to 395.4 million reais from 414.2 million reais.

Reported net income came to a loss of 18.4 million reais, or a loss of 69 centavos per share, compared to a loss of 17.0 million reais, or a loss of 61 centavos per share, in the prior-year period.

As of Nov. 12, US$1 was equivalent to 3.79 reais.