Battistella Administração e Participações SA said its second-quarter normalized net income amounted to a loss of 20 Brazilian centavos per share, compared with a loss of 83 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 1.2 million reais, compared with a loss of 5.0 million reais in the prior-year period.

The normalized profit margin increased to negative 3.0% from negative 5.4% in the year-earlier period.

Total revenue declined 55.5% on an annual basis to 40.5 million reais from 91.2 million reais, and total operating expenses decreased 56.6% from the prior-year period to 38.5 million reais from 88.7 million reais.

Reported net income totaled 30.7 million reais, or 5.13 reais per share, compared to a loss of 17.8 million reais, or a loss of 2.97 reais per share, in the year-earlier period.

As of Oct. 24, US$1 was equivalent to 3.13 reais.