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Tec Toy Q3 loss narrows YOY

Tec Toy S/A said its third-quarter normalized net income amounted to a loss of 55 Brazilian centavos per share, compared with a loss of 2.28 reais 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 2.9 million reais, compared with a loss of 9.3 million reais in the prior-year period.

The normalized profit margin declined to negative 181.5% from negative 166.7% in the year-earlier period.

Total revenue decreased 71.2% year over year to 1.6 million reais from 5.6 million reais, and total operating expenses fell 41.3% on an annual basis to 5.2 million reais from 8.9 million reais.

Reported net income came to a loss of 4.6 million reais, or a loss of 88 centavos per share, compared to a loss of 14.8 million reais, or a loss of 3.65 reais per share, in the year-earlier period.

As of Nov. 10, US$1 was equivalent to 3.38 reais.