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Lima Caucho Q4 loss widens YOY

Lima Caucho SA said its normalized net income for the fourth quarter amounted to a loss of 44 Peruvian céntimos per share, compared with a loss of 2 céntimos 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 9.4 million soles, compared with a loss of 414,490 soles in the year-earlier period.

The normalized profit margin dropped to negative 46.6% from negative 1.3% in the year-earlier period.

Total revenue declined 45.5% year over year to 16.8 million soles from 30.8 million soles, and total operating expenses totaled 31.6 million soles, compared with 31.5 million soles in the prior-year period.

Reported net income totaled a loss of 14.8 million soles, or a loss of 68 céntimos per share, compared to a loss of 880,960 soles, or a loss of 4 céntimos per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 71 céntimos per share, compared with a loss of 5 céntimos per share in the prior year.

Normalized net income was a loss of 15.3 million soles, compared with a loss of 1.2 million soles in the prior year.

Full-year total revenue fell 32.9% from the prior-year period to 85.3 million soles from 127.1 million soles, and total operating expenses decreased 14.3% on an annual basis to 104.1 million soles from 121.5 million soles.

The company said reported net income came to a loss of 24.1 million soles, or a loss of 1.11 soles per share, in the full year, compared with a loss of 2.1 million soles, or a loss of 10 céntimos per share, the prior year.

As of April 13, US$1 was equivalent to 3.26 soles.