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Vulcabras Azaleia Q1 loss narrows YOY

Vulcabras | azaleia SA said its normalized net income for the first quarter came to a loss of 2 Brazilian centavos per share, compared with a loss of 14 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 4.6 million reais, compared with a loss of 26.3 million reais in the year-earlier period.

The normalized profit margin rose to negative 1.6% from negative 9.2% in the year-earlier period.

Total revenue came to 284.1 million reais, compared with 286.1 million reais in the year-earlier period, and total operating expenses fell 12.6% year over year to 260.3 million reais from 297.7 million reais.

Reported net income came to a loss of 13.5 million reais, or a loss of 7 centavos per share, compared to a loss of 42.9 million reais, or a loss of 23 centavos per share, in the year-earlier period.

As of May 8, US$1 was equivalent to 2.99 reais.