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Arezzo Indústria e Comércio Q4 profit climbs 9.3% YOY

Arezzo Indústria e Comércio S.A. said its fourth-quarter normalized net income came to 30 Brazilian centavos per share, compared with the S&P Capital IQ consensus estimate of 36 centavos per share.

EPS increased 9.2% year over year from 28 centavos.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 27.1 million reais, a gain of 9.3% from 24.8 million reais in the year-earlier period.

The normalized profit margin climbed to 9.5% from 8.5% in the year-earlier period.

Total revenue decreased year over year to 283.8 million reais from 289.6 million reais, and total operating expenses declined on an annual basis to 243.7 million reais from 253.0 million reais.

Reported net income rose 12.6% on an annual basis to 33.9 million reais, or 38 centavos per share, from 30.1 million reais, or 34 centavos per share.

For the year, the company's normalized net income totaled 1.17 reais per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1.32 reais.

EPS rose from 1.15 reais in the prior year.

Normalized net income was 103.8 million reais, a gain from 101.9 million reais in the prior year.

Full-year total revenue grew 6.4% on an annual basis to 1.12 billion reais from 1.05 billion reais, and total operating expenses rose 8.2% on an annual basis to 977.7 million reais from 903.3 million reais.

The company said reported net income grew 6.5% on an annual basis to 120.0 million reais, or 1.35 reais per share, in the full year, from 112.8 million reais, or 1.27 reais per share.

As of March 2, US$1 was equivalent to 3.90 reais.