Pettenati SA - Indústria Têxtil said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, was 102,690 reais, a decline of 87.8% from 839,260 reais in the prior-year period.
Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.
The normalized profit margin declined to 0.1% from 1.0% in the year-earlier period.
Total revenue rose 9.8% year over year to 90.1 million reais from 82.1 million reais, and total operating expenses grew 10.5% on an annual basis to 87.0 million reais from 78.7 million reais.
Reported net income fell 27.7% on an annual basis to 1.0 million reais, or 2 centavos per share, from 1.4 million reais, or 3 centavos per share.
As of Feb. 13, US$1 was equivalent to 2.82 reais.
