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Saraiva Q4 loss widens YOY

Saraiva SA Livreiros Editores said its fourth-quarter normalized net income amounted to a loss of 2.84 reais per share, compared with a loss of 21 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 75.7 million reais, compared with a loss of 5.4 million reais in the year-earlier period.

The normalized profit margin declined to negative 15.2% from negative 1.1% in the year-earlier period.

Total revenue declined year over year to 499.0 million reais from 515.5 million reais, and total operating expenses rose 17.2% from the prior-year period to 589.7 million reais from 503.4 million reais.

Reported net income came to a loss of 117.8 million reais, or a loss of 4.41 reais per share, compared to a loss of 2.1 million reais, or a loss of 8 centavos per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 4.09 reais per share, compared with the S&P Capital IQ consensus normalized EPS estimate of a loss of 2.62 reais.

EPS was a loss of 47 centavos in the prior year.

Normalized net income was a loss of 109.0 million reais, compared with a loss of 12.8 million reais in the prior year.

Full-year total revenue declined from the prior-year period to 1.77 billion reais from 1.82 billion reais, and total operating expenses increased year over year to 1.87 billion reais from 1.78 billion reais.

The company said reported net income totaled a loss of 145.2 million reais, or a loss of 5.44 reais per share, in the full year, compared with a loss of 2.3 million reais, or a loss of 8 centavos per share, the prior year.

As of March 30, US$1 was equivalent to 3.60 reais.