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M Dias Branco profit misses consensus by 24.7% in Q1

M. Dias Branco S.A. Indústria e Comércio de Alimentos said its normalized net income for the first quarter was 29 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 38 centavos per share.

EPS climbed year over year from 28 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 97.4 million reais, a gain from 95.6 million reais in the prior-year period.

The normalized profit margin increased to 9.4% from 8.8% in the year-earlier period.

Total revenue declined year over year to 1.03 billion reais from 1.08 billion reais, and total operating expenses declined from the prior-year period to 887.8 million reais from 924.3 million reais.

Reported net income declined 5.2% from the prior-year period to 125.4 million reais, or 37 centavos per share, from 132.3 million reais, or 39 centavos per share.

As of April 27, US$1 was equivalent to 2.92 reais.