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Unicasa Indústria de Mí³veis swings to loss in Q3

Unicasa Indústria de Móveis SA said its third-quarter normalized net income came to a loss of 3 Brazilian centavos per share, compared with 3 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.3 million reais, compared with income of 2.2 million reais in the prior-year period.

The normalized profit margin dropped to negative 4.9% from 3.9% in the year-earlier period.

Total revenue fell 16.1% on an annual basis to 46.8 million reais from 55.8 million reais, and total operating expenses decreased on an annual basis to 52.8 million reais from 54.7 million reais.

Reported net income totaled a loss of 4.3 million reais, or a loss of 6 centavos per share, compared to income of 2.9 million reais, or 4 centavos per share, in the prior-year period.

As of Nov. 9, US$1 was equivalent to 3.23 reais.