Morixe Hermanos SAC. e I. said its normalized net income for the fiscal first quarter ended Aug. 31 was a loss of 5 Argentine centavos per share, compared with a loss of 42 centavos 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 708,140 pesos, compared with a loss of 6.2 million pesos in the prior-year period.
The normalized profit margin climbed to negative 1.0% from negative 11.9% in the year-earlier period.
Total revenue increased 40.4% year over year to 73.9 million pesos from 52.6 million pesos, and total operating expenses rose 23.7% on an annual basis to 68.7 million pesos from 55.5 million pesos.
Reported net income came to a loss of 969,440 pesos, or a loss of 6 centavos per share, compared to a loss of 6.6 million pesos, or a loss of 44 centavos per share, in the prior-year period.
As of Oct. 14, US$1 was equivalent to 8.48 Argentine pesos.
