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Teka Tecelagem Kuehnrich Q2 loss widens YOY

Teka Tecelagem Kuehnrich S.A. said its normalized net income for the second quarter came to a loss of 45.64 reais per share, compared with a loss of 45.07 reais 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 23.0 million reais, compared with a loss of 22.7 million reais in the year-earlier period.

The normalized profit margin climbed to negative 58.5% from negative 63.8% in the year-earlier period.

Total revenue climbed 10.5% year over year to 39.2 million reais from 35.5 million reais, and total operating expenses declined from the prior-year period to 40.1 million reais from 41.0 million reais.

Reported net income came to a loss of 37.0 million reais, or a loss of 73.63 reais per share, compared to a loss of 36.7 million reais, or a loss of 72.89 reais per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to 3.16 reais.