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Hotéis Othon Q4 loss widens 25.7% YOY

Hotéis Othon S.A. said its normalized net income for the fourth quarter amounted to a loss of 44 Brazilian centavos per share, compared with a loss of 35 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 8.1 million reais, compared with a loss of 6.5 million reais in the prior-year period.

The normalized profit margin fell to negative 22.7% from negative 15.3% in the year-earlier period.

Total revenue declined 8.3% on an annual basis to 38.8 million reais from 42.3 million reais, and total operating expenses decreased 9.0% on an annual basis to 41.7 million reais from 45.8 million reais.

Reported net income totaled a loss of 14.0 million reais, or a loss of 76 centavos per share, compared to a loss of 9.7 million reais, or a loss of 53 centavos per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 82 centavos per share, compared with a loss of 5 centavos per share in the prior year.

Normalized net income was a loss of 15.1 million reais, compared with a loss of 971,690 reais in the prior year.

Full-year total revenue decreased 14.7% on an annual basis to 144.7 million reais from 169.7 million reais, and total operating expenses declined year over year to 146.2 million reais from 150.7 million reais.

The company said reported net income came to a loss of 23.8 million reais, or a loss of 1.30 reais per share, in the full year, compared with a loss of 520,000 reais, or a loss of 3 centavos per share, the prior year.

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